Cheltenham-based fashion retailer, Superdry, is in talks to raise at least £10 million.

It's thought the retailer is planning to unveil a share sale as soon as next week, as reported by Sky.

The planned move will form part of efforts by founder Julian Dunkerton, who owns around a quarter of the company, to revive the brand's performance. It follows the news last month that Superdry had struck a deal to raise £34m from the sale of its intellectual property assets in Asia-Pacific.

Superdry recently warned that sales growth had failed to reach expectations, which it partly blamed on factors outside its control, including the cost-of-living crisis and poor weather resulting in less demand for the spring and summer collection.

Earlier this year, Superdry hired Interpath Advisory to help address its cost base and it has just secured an amendment to its borrowing terms with Bantry Bay, which extended financing worth up to £80m in December.

Despite speculation that Mr Dunkerton might make an offer to take the company private, he has said he no plans to do so at the moment.