It has been reported in the press that, Julian Dunkerton, the founder of high street fashion brand “Superdry” has been forced to sell 50million pounds worth of his shares in the business to fund his divorce.
“Superdry” is owned by parent company, “SuperGroup” and it has been confirmed that Julian has recently completed the sale of 40 million shares at a cost of £12 per share. Despite the large dissipation of his shareholding Mr Dunkerton will still remain the largest stakeholder with a 27% stake in the group which is worth an estimated £292 million pounds.
News of the sale has resulted in a 6% fall in the share price.
The “Superdry” story is a true rags to riches tale. The brand was founded in 1985 by Mr Dunkerton from very humble beginnings at a market stall in Cheltenham.
The “Superdry” brand is famous for selling premium quality casual clothing and is sold in 100 countries worldwide with 135 stores in the UK.
Mr Dunkerton’s story should act as cautionary tale for those who have a lot to lose financially as a result of divorce proceedings. Should he and his Wife have entered into a pre-nup before getting married it may have been the case that he would have been able to limit his Wife’s claim against the business.