Superdry boss Julian Dunkerton hailed a “turning point” after a £10m bailout plan was approved.
Shares in the High Street fashion chain soared 86.3 per cent after it assured investors it would not go bankrupt.
Superdry had warned of possible insolvency in April but said it hoped to make changes such as rent reductions with landlords and delisting from the London stock exchange.
In fashion: CEO Julian Dunkerton and his wife Jade Holland Cooper
Co-founder and chief executive Dunkerton, 59, said: “This is the crucial next step in our journey and a turning point for the business.”
He said he would invest a “significant amount” of his own money to ensure “the business continues to survive in the long term”. The plan means it will go from owning just over 20 per cent of the business to 75 per cent.
Chairman Peter Sjolander said: “This is a crucial step in achieving the restructuring of the business and ensuring Superdry is in the best possible shape.”
