Superdry & Co has secured a £70 million refinancing package from Barclays and Bank of America to push ahead with plans to open 21 new stores, Retail Gazette reports. The package replaces financing agreed with Bantry Bay Capital and Hilco Capital during its 2023 turnaround, and is expected to save around £5 million in annualised interest.
The deal combines a £60 million asset-based lending facility, led by Barclays, with a £10 million trade finance facility backed by UK Export Finance. The report was published on 6 November. Retail Gazette does not describe any franchise element in the plan, so this is a multi-site retail story: it is included because new store openings are how the business is growing its estate, and the report does not say whether any will be run by franchise partners.
The terms of the new facilities
The £60 million facility runs until October 2029. Hilco has separately extended its support until June 2028, providing up to £30 million of additional funding headroom. Retail Gazette says the refinancing replaces the arrangements agreed with Bantry Bay Capital and Hilco during the 2023 turnaround, and that Superdry now sees itself as moving from stabilising the business to driving growth. It cites a return to profit in FY25, continued EBITDA improvement throughout FY26 and what the company called a strong start to FY27.
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21 new stores and the brand portfolio
Superdry plans to open 21 new stores during FY27. The report links the growth plan to three brand projects: the rollout of Bench, the exclusive UK and European launch of the US workwear label Stan Ray, and a long-term partnership with Kappa that is due to launch for spring and summer 2027. The report does not give the split of the 21 openings by brand, by region or by operating model, and it does not give the number of Superdry stores open today.
What the report does not say about operating models
The report is silent on whether Superdry’s new stores will be company-run, run by franchise partners or opened through concessions, and the question matters for how its growth is read. Nic Shaw, chief financial officer, said the refinancing would put the business on a firmer financial footing and give it the flexibility to deliver its growth strategy. For how franchise networks differ from company-run estates in the UK, see our guide to franchising in the United Kingdom.
Franchise status unverified
Nothing in the Retail Gazette report describes Superdry’s UK stores as franchised. Until the company states the operating model for the 21 openings, this is best read as a multi-site retail financing story, not a franchise one.
