Superdry exits from stock market as trading in firm’s shares is suspended

Fashion retailer Superdry will cease trading on the stock market from next week as the Cheltenham company continues its fight for survival.

The firm, which was founded by Julian Dunkerton, has put a rescue plan in place as it battles for survival.

Superdry has been hit by a combination of falling sales and mounting debts and is planning to close a number of its shops. It has also agreed deals with landlords on reducing rents at its other outlets.

Dunkerton has personally backed a fundraise and the company, which has seen its share value plummet in recent years, is delisting.

The rescue package has been agreed by shareholders at a recent annual general meeting.

This morning the company announced it is suspending trading in its shares ahead of the delisting.

The last day of trading will be today and the delisting will become effective from Monday.

The Company’s ordinary shares will be admitted to trading on the JP Jenkins securities matching platform from 15 July 2024.

JP Jenkins offers a securities matching venue for unlisted or unquoted assets in companies, enabling shareholders and prospective investors to buy and sell shares on a matched bargain basis.

Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer.