SUPERDRY chief Julian Dunkerton today called on the government to slash business rates in order to save the high street.
As the business he co-founded slumped to a £42 million loss due to Covid-19 enforced store closures, Dunkerton insisted the business is “fit and ready for the Christmas run in”.
But he warned: “The government need to address the rates issue. Landlords are being realistic, but the government should halve rates. Or make them a percentage of revenue.”
In the year to April, Superdry sales fell 19% to £704 million, but it has cash on hand of nearly £50 million.
Dunkerton added: “What we have to appreciate is that town centres are part of our social fabric we need them to feel good about life. There aren’t enough good chains to make an interesting high street at the moment. We need independents to come back.”
Superdry furloughed 88% of its 4000 strong staff, most of which have now returned to work.
Dunkerton returned to the business as CEO after a bruising fight with previous management.
An arch Remainer, set up the business with James Holder in 2003. His personal wealth is estimated at around £180 million.