Superdry to close 'exceptional' branch today after 12 years

The retailer previously announced a range of high street closures after being hit by tough trading conditions.

The fashion brand said it is looking at various "cost-saving options" and considering a major restructuring which could include store closures and job cuts.

The Overgate shopping centre has confirmed a new retailer will soon be taking over the space, which Superdry occupied for 12 years, it has been reported.

Local reports suggest another retailer will take over the site by October, but it remains unclear how many jobs have been affected by the closure.

Customers have taken to social media to express their thoughts on the closures.

One person wrote on Trustpilot: “Customer service was exceptional. Bought an item in store for my date, and ordered an item for myself.

“Staff were brilliant. Returned a couple of days later for the item I ordered, same member of staff, fantastic service and chat. Friendly, knowledgeable, efficient.”

Another added: “The shop assistant was so friendly and helpful, the store didn’t have my size in the hoodie, so she offered to check online, then ordered it and had it sent to my home address.

“It arrived so quickly and is just great, cosy warm and good quality.”

Earlier this week, Superdry announced plans to delist from the London Stock Exchange as part of wider restructuring efforts.

The cost-saving plan includes negotiating lower rents on 39 of its UK locations and extending the maturity date on significant loans.

The company also aims to boost sales by "enhancing product ranges" and "reallocating marketing spend".

However, the retailer warned that failure to implement these plans could lead to administration, potentially putting hundreds of stores at risk - including 100 in the UK.

The retailer has shut five of its shops since May: in Ipswich, Luton, Telford, and Lincoln and Stoke On Trent.

Three more store closures are planned in 2023, one in Bury St Edmunds, Suffolk, and the others in unconfirmed locations

Superdry has seen its stock plummet by more than 50 per cent recently after plans for a potential takeover by chief executive Julian Dunkerton were dashed.

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Superdry previously announced they were set to deliver more than £40million of savings this financial year, after previously cutting £20million

Julian Dunkerton, founder and chief executive said: "This has clearly been a difficult period for Superdry.

"A challenging consumer retail market, set against a backdrop of macroeconomic uncertainty and some remarkably unseasonal weather conditions have all combined to weaken the financial performance of the group."