Cheltenham's global fashion brand Superdry has parted with the London Stock Exchange after 14 years of trading.

As of 8am today, the firm, which began its story life in 1985 when co-founder Julian Dunkerton established the Cult Clothing chain in Cheltenham and sowed the seeds for Superdry in 2003, exited the capital trading system. Shares had recently been trading as low as 3.25p.

Amid the move, which has been made as part of a restructuring process to sidestep administration, Mr Dunkerton, as CEO, has pledged £10m for the ailing brand as part of a fundraising attempt. Rent reductions are also being pursued for 39 of the label's 96 UK stores. Globally, Superdry has 216 shops.

In a headline that asked if the "Y2K brand so last year?", online analysts at Startups said: "the brand enjoyed a meteoric rise in the 2000s as university students flocked to its unique designs and celebrity-endorsed sportswear."

As early as 2019, other fashion media began to ask if the company had become a "dad brand". However, in recent days, Korean Kpop sensation NCT Dream have teamed up with the label to become its ambassador, while Superdry is vocal about its mission to become "the most sustainable global fashion brand on the planet by 2030".

The first Superdry store welcomed shoppers in Covent Garden in 2004 as the brainchild of Mr Dunkerton and co-founder James Holder, who also founded Bench. But the right-move, right-time success of Superdry's look - with prominent labelling and Japanese graphics - has since then seen consumers "go cold", said Startups.

At its best, Superdry was valued at almost £1.7 billion with shares peaking at £20.74, but a collapse by 99.8% meant that on the final day of trading the price was just above the 3.25p mark.

WIthin the company, it is reported that problems began in 2018 after a profit warning was issued on the back of the brand selling only 52% of its clothing at full price that year. Shares subsequently fell by 20% and Mr Dunkerton, who had three years previously handed the CEO role to Euan Sutherland, eventually took the helm again after a public spat about product strategy.

Mr Dunkerton's subsequent return to the board saw a new direction for the company as it attempted to speed up product design and launch in an attempt to take on the likes of Asos. With product margins rising by 3.2% by the end of 2019, things were looking up.

In January 2022 Superdry reported its books were profitable again, with revenue sales rising 3.2% on 2021. But the cost of living crisis eroded that progress and Superdry's most recent experience suggests that recent trading, which has fallen by 23%, mirrors the retail woes of other major fashion brands with a high-street presence.

Punchline-Gloucester.com understands that Superdry has been working with PwC to pursue cost savings and that on the latest understanding these could include store closures and redundancies among the 3,350-strong workforce. The brand's website currently advertises four vancancies nationally.

A statement from the LSE confirming the exit said: "The Company's ordinary shares will be admitted to trading on the JP Jenkins securities matching platform from 15 July 2024."