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An American investment firm is in talks to takeover struggling fashion retailer Superdry.

The clothing brand has survived amid a hugely declining share price and a series of profit warnings - including a loss of £148.1million - in the last 12 months, forcing it to bring in advisers from PwC to look at a potential restructuring of the business.

Co-owner Jamie Dunkerton, who returned to the company five years ago, is in talks with Davidson Kempner, the same US firm which has backed Oak Furnitureland and New Look.

The news was immediately welcomed by city investors sending shares up by 17.4% to 39 and a half pence.

The brand, which has a ground floor unit in Aberdeen's Union Square, has struggled since the pandemic despite partnerships with worldwide names Neymar and Brooklyn Beckham.

But Dunkerton admitted after the company published its results in September "it hasn't been easy".

He added: "I can’t deny, it’s been a year where we’ve had to sort our liquidity, play catch-up with our rents, stabilise turnover and get the balance sheet in order."

FTSE 100

The UK's flagship share index, the FTSE 100, was down 50-points at 7,669 shortly after opening this morning.

Brent crude oil futures was up 0.27% today, trading at $82.56 a barrel.

Companies reporting this week

21-Feb
BAEFull Year Results
GlencoreFull Year Results
HSBCFull Year Results
NVIDIAFull Year Results
Rio TintoFull Year Results
Tate & LyleQ3 Trading Statement
22-Feb
Anglo AmericanFull Year Results
GenusHalf Year Results
Hargreaves LansdownHalf Year Results
HaysHalf Year Results
Hikma PharmaceuticalsFull Year Results
IndiviorFull Year Results
LloydsFull Year Results
ME GroupFull Year Results
MondiFull Year Results
Morgan SindallFull Year Results
NestleFull Year Results
Pantheon InternationalHalf Year Results
Rolls RoyceFull Year Results
Safestore HoldingsQ1 Trading Statement
WPPPreliminary Full Year Results
23-Feb
Deutsche TelekomFull Year Results
Jupiter Fund ManagementFull Year Results
Standard CharteredFull Year Results

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