Superdry co-founder ramps up comeback campaign as shares plunge
by Zoe Wood and Jasper Jolly from Economics | The Guardian on (#44TYY)
Julian Dunkerton urges shareholders to help him take back control of brand after fresh profits warning
The co-founder of Superdry has said he needs to be back running the fashion chain within weeks if it is to be turned around by next Christmas - and has called on other shareholders to support his comeback campaign.
Julian Dunkerton was speaking after the company issued its second profit warning in two months. Superdry shares collapsed by 38% to 354p on Wednesday, wiping 32m off the value of Dunkerton's 18% stake.
Maplin, Toys R Us and Jacques Vert have all collapsed in recent months, but several retailers and restaurant groups are facing financial problems and are trying to close stores or negotiate rent cuts.
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