Superdry shares plunge as boss dismisses going concern warning
Julian Dunkerton says fashion retailer does not face financial problems despite slumping sales and profits following lockdown restrictions
19 January 2021 • 1:15pm
The boss of Superdry insisted there was no way this company is heading towards any financial difficulty as rolling lockdowns continue to hammer its sales and profits.
The retailer sounded a warning over its ability to continue as a going concern in its half-year update because of the duration of the current lockdown and volatile consumer demand.
Julian Dunkerton, who co-founded the business, said it was a technical [accounting] thing due to coronavirus and it had to be included. We don t have structural debt, I m fully confident in our position cash-wise. It s a technicality.