Fashion retailer Superdry is considering the sale of its brand rights in the US and Middle East as it looks to boost its liquidity.
The move comes as founder and chief executive Julian Dunkerton continues to seek additional finance to boost the company’s balance sheet after it issued another profit warning last week.
Talks to offload the brand’s rights in the US and Middle East follows the £40m sale of its intellectual property assets in India, Sri Lanka and Bangladesh to India’s biggest retailer Reliance Brands Holding.
Superdry sold its brand rights in South Korea, China and other parts of Asia for £40.7m back in March to South Korea’s Cowell Fashion Company.
Sources said discussions about the retailer’s assets in the Middle East were more advanced compared to the US after the interest of one bidder started to wane.
If successful, the sale adds to the list of initiatives the retailer has taken to generate additional cash, including a £12m equity raise in May to help fund its turnaround plan after it was forced to withdraw its “broadly breakeven” profit guidance.
