Retailer Superdry plans to raise about £12m through an equity placing to help strengthen its balance sheet.
The struggling fashion brand said it was in “positive talks” regarding the fundraising, and that it planned to issue 15.7m new ordinary shares at 76.3p each, totalling 19.1% of its equity.
The move is the latest effort to raise cash for this business. The firm has already hired Interpath Advisory to help it address it cost base and save upwards of £35m and last month it unveiled a deal to sell its intellectual property assets in Asia-Pacific to raise £34m.
