Struggling Superdry appoints PWC to help with debt problems

Struggling retailer Superdry has drafted in external help to deal with its debt problems.

According to reports founder and chief executive of the Cheltenham business Julian Dunkerton has appointed PwC to examine its options.

The move came just weeks after the fashion brand’s shares sank to a record low after it blamed abnormally mild autumn weather for weak sales.

The company issued a its latest profit warning just a week before Christmas.

Shares in Superdry are currently trading at just under 30 pence giving it a market value of £30m.

The firm has taken a number of decisions over the last 12 months including an equity raise and the sale of its brand in Asia.

There has been ongoing speculation  Dunkerton, who owns roughly a quarter of Superdry’s shares is looking to take the company private.

A year ago Interpath Advisory, a restructuring firm, was appointed to draw up cost-cutting plans for the business.