Jan 27 (Reuters) – British fashion retailer Superdry is to explore a radical restructuring that could include substantial numbers of store closures and job cuts, Sky News reported on Saturday.
Superdry declined to comment on the Sky News report when contacted by Reuters.
The Sky News report said that Superdry and its advisers at PricewaterhouseCoopers (PwC) are starting work on plans that could lead to a company voluntary arrangement (CVA) or restructuring plan.
This could be aimed at closing underperforming shops which would also have an impact on jobs, however there was little indication this weekend of how many of the company’s staff and stores might ultimately be affected, the Sky News report added.
The Gloucestershire-based firm said on Friday its Chief Financial Officer Shaun Wills will step down at the end of March, naming Giles David as its interim CFO, effective on Jan. 29.
The fashion retailer reported a wider half-yearly loss on Friday as unusual weather curbed sales amid a cost-of-living crisis.
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