Superdry is in active discussion with lenders to repay a loan due in January as the cost-of-living crisis hits consumer spending. The company is seeking new investors to replace an asset-backed facility worth £ 70 million (US $ 83 Million), according to Bloomberg reports. It seems to have joined online furniture store Made.com Group Plc and British heritage clothing chain Joules Group Plc., which filed for bankruptcy in early November month threatening 1600 jobs, both citing supply chain challenges and cost-of-living crisis. Superdry reported a return to profit last month driven by sales of more clothing at full price. Still, store visits to Superdry haven’t yet recovered to pre-Covid levels.

Source: Forbes November 24, 2022 06:06 UTC