Doubts over future of troubled fashion brand Superdry

The Superdry store in Norwich. Pic: Superdry

The Superdry store in Norwich. - Credit: Archant

Retailer Superdry, with a store in Norwich, has warned there are doubts over its ability to continue as a going concern.

The firm slid to a £18.9m pre-tax loss for the half-year to October 24, as the pandemic put its turnaround strategy on hold.

It comes after the firm said last June that 400 jobs were under threat, including in Norwich, as part of a restructuring process.

It has since told investors that risks associated with current uncertainty and the recovery in consumer demand "represented material uncertainty and may cast significant doubt on the group's ability to continue as a going concern".

The group said that, as of January 9, 173 of its stores were closed due to lockdown measures, representing 72pc nationwide.

It said this was the highest level of closures since April. Sales had plummeted despite a 13.2pc increase in ecommerce sales in the past 11 weeks to January 9.
 


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