Superdry plc (LSE:SDRY) said it has extended the deadline for Chief Executive Officer Julian Dunkerton to make a firm takeover offer to March 29. The British clothing brand on March 1, 2024 said that talks with Dunkerton and potential sponsors regarding a possible offer continue, along with work on its turnaround plan. The company added that it is exploring a number of material cost saving options, which are expected to be an important element of any offer.

The previous deadline expired March 1, 2024. Superdry said on February 2 that said Dunkerton had asked permission to make an offer and start discussions over potential sources of finance, prompting shares to rise around 120% over the day.