Superdry gets advice on cutting costs
By Sarah Wood | 14th March 2023
Cheltenham-based Superdry has called in advisors to help it cuts costs.
The fashion brand seemed to be on the road to recovery after it secured a refinancing deal, but it has confirmed it is using Interpath Advisory to help it cut costs, as reported by FashionUnited.
Superdry said the brand has seen strong trading and continues to resonate with consumers, but market conditions are challenging across the fashion sector. It said it is working with Interpath for advice as it completes the turnaround of the brand in a changed retail environment, to ensure it has the right structure and cost base in place for future success.
Superdry's sales were hit by declining consumer confidence and lockdown restrictions at the beginning of the pandemic. There was an improvement in the first half of 2022, but uncertainty has continued, particularly with its wholesale arm underperforming at the end of 2022 and into the start of 2023.
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