“This has been a difficult year for the business,” said Superdry’s Julian Dunkerton as the delayed full-year numbers finally appeared. He could say the same about every year since his against-the-odds coup in 2019 when he succeeded in getting himself reinstalled as boss of the company he co-founded in 2003 and brought to the stock market in 2010.
First, he ran into the pandemic, then the cost of living crisis and then a long financing struggle that is reflected in the pauper’s terms on the group’s £25m borrowing agreement from Hilco: 10.5% plus the Bank of England base rate, so an overall interest rate of 15.75% currently.
