The chief operating officer of Superdry is quitting the post.

The departure of Silvana Bonello comes as the Cheltenham-based clothing brand which sells across 157 countries and employs 735 staff looks to bolster its finance sheet. The brand has raised £12m through an equity placing this week.

Ms Bonello began working at Superdry in March 2021 and directed strategic planning, deployment and execution across digital, retail and wholesale. Previously, she was vice-president on planning and operations at the shoe brand Vans and has also worked with Nike.

A spokesperson for Superdry thanked Ms Bonello for her contribution and wished her all the best for the future.

Ms Bonello's departure came as Superdry's stock price reached a record low of 79p – the firm is now valued at £65m, which is a fraction of its heyday worth.

According to the Retail Gazette, the pandemic hit the business, but as it nears the second half of 2023 "the days of lockdowns seem a distant memory and fashion retailers across the gambit from Primark to Next have all shown strong recovery".

Superdry recently unveiled a deal to sell intellectual property assets in Asia-Pacific, thereby raising £34m. The label is also slashing costs, recently announcing aims to save more than £35m.

Plans to make savings include "estate optimisation", which may spell store changes or closures. A savings plan is targeted for the end of the 2024 financial year.