Fears have been raised over the closure of Superdry stores as the fashion store announces plans to cut costs by more than £35 million.
Superdry has revealed plans to cut costs by more than £35 million after seeing a drop in consumer spending.
The retailer has said issues such as cost-of-living pressures and poor weather have weakened desire for spring and summer collections during February and March.
Julian Dunkerton, Superdry’s founder and chief executive, said: “The Superdry brand continues to evolve but there is no doubt that the market conditions we face are challenging, compounded by the issues we have previously disclosed and are working to address in wholesale.
“As a result, while we continue to deliver like-for-like growth in retail sales, we need to ensure our business is in the right shape to navigate these difficult times, which is why we are looking hard at our cost base."
The clothing chain currently has 104 shops across the UK, including one in Midsummer Place, Milton Keynes.
Rent negotiations are among the options being explored by the company, it is understood with Superdry insisting that the announcement would not lead to any closures.
Despite this, industry sources say some closures would be inevitable to cut costs.
