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Report: Superdry in Talks to Raise Nearly $19 Million in Share Sale

Superdry store.
Superdry store. (Shutterstock)
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Struggling British fashion brand Superdry is said to be in advanced talks to raise about 15 million pounds ($18.9 million) by sale of shares, Sky News reported on Friday.

The cash call could be unveiled as soon as next week, the report added.

Superdry declined to comment, when contacted by Reuters.

The apparel maker had said in April that it had been considering a potential equity raise of up to 20 percent backed by founder and CEO Julian Dunkerton.

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One investor said the cash call was likely to be worth more than 10 million pounds and possibly closer to 15 million pounds, according to the Sky News report.

By Prerna Bedi and Shreyaa Narayanan; editor: Shailesh Kuber.

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