Fashion retailer Superdry will delist from the London Stock Exchange as it starts its restructuring plan

  • Superdry will delist from the London Stock Exchange on Monday as it begins its restructuring plan
  • The delisting comes after approval from creditors, shareholders, and the court for its turnaround programme
  • Superdry’s shares will be admitted to trading on the JP Jenkins securities matching platform
  • Peel Hunt will no longer be Superdry’s sponsor, financial adviser, and corporate broker

Superdry, the fashion retailer, is set to delist from the London Stock Exchange on Monday as it embarks on its restructuring plan. The company received approval from its creditors, shareholders, and the court for its turnaround programme, which will help it avoid insolvency. Superdry’s shares will be traded on the JP Jenkins securities matching platform after the delisting. The company will review the provision of this facility based on shareholder demand. Peel Hunt, Superdry’s current sponsor, financial adviser, and corporate broker, will no longer hold these roles. Last month, Superdry shareholders approved the retailer’s plans for a £10m equity raise, underwritten by founder Julian Dunkerton, and a delisting from the London Stock Exchange. This followed the news that creditors supported the company’s plans to reduce rent across 36 UK stores, with 12 stores having no rent. Superdry Chairman Peter Sjӧlander stated that this delisting is a crucial step towards the company’s recovery and future growth.

Factuality Level: 3
Factuality Justification: The article provides relevant information about Superdry’s delisting from the London Stock Exchange and its restructuring plan. However, it includes unnecessary details about JP Jenkins securities matching platform and a digression about Gymshark’s Ben Francis, which are tangential to the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about Superdry delisting from the London Stock Exchange and its restructuring plan, including details on its shares trading on JP Jenkins securities matching platform and shareholders’ approval for a £10m equity raise. It also mentions the rent reductions across 36 UK stores. However, it lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Superdry shares will no longer trade on the London Stock Exchange and will be admitted to trading on the JP Jenkins securities matching platform, impacting financial markets and investors in Superdry.
Financial Rating Justification: The article discusses a company’s delisting from the London Stock Exchange and its restructuring plan, which impacts its shares and financial market activities.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailgazette.co.uk