LAHORE MIRROR – The Financial Conduct Authority (FCA) of the United Kingdom has temporarily halted the trading of Superdry Plc’s (SDRY.L) ordinary shares priced at 5 pence each, as per the company’s announcement on Wednesday.
Superdry revealed that the publication of its annual results would be postponed due to ongoing collaboration with its auditor, RSM UK Audit LLP. This delay has arisen from extended procedural requirements during RSM’s inaugural year of auditing for the company, Superdry stated.
The company also noted that it intends to request the reinstatement of share trading upon the release of its annual results, which is anticipated to occur before the week’s end.
Superdry, confronted by financial challenges and weakened demand for its spring-summer products amid a cost of living crisis, has been actively seeking capital infusion since April.
In a development earlier this month, Superdry successfully secured additional funding of up to £25 million ($31.58 million) from restructuring specialist Hilco Capital.