Superdry CEO Dunkerton: Superdry CEO and major shareholder Julian Dunkerton has announced that he will not be pursuing an offer for the company, according to statements released on Thursday. Dunkerton, who co-founded the company and holds a significant 26% stake, had been engaged in discussions with Superdry regarding various options, including the possibility of making a cash offer for shares not currently under his ownership.

While the potential bid is currently off the table, Superdry continues to explore alternative solutions as it navigates through challenging times characterized by sluggish demand and financial constraints in recent months.

In a statement, Superdry noted, “The company remains in discussions with Julian Dunkerton in respect of alternative structures, including a possible equity raise fully underwritten by Julian Dunkerton.”

Additionally, the retailer has secured an extension of six months and an increase of up to £20 million ($25.3 million) to its lending facility with Hilco Capital, following constructive discussions.

Despite these developments, Superdry’s shares experienced a decline of approximately 5% on Thursday prior to the announcements, contributing to an overall decrease of around 16% since the beginning of the year.