Earlier this week we heard that Superdry creditors had approved the parts of its rescue plan that were relevant to them and on Friday the company announced that its shareholders have given the plan the thumbs up as well.

It now looks like the struggling company is moving forward with its turnaround programme that includes delisting from the London Stock Exchange, raising new cash via a £10 million equity placing underwritten by CEO Julian Dunkerton, and adjusting the terms of its leases for some of its key shops in order to reduce its financial burden.

The funding in particular is key with the firm’s independent directors saying it will be enough to implement the turnaround plan.

The company said that all of the resolutions put to a general meeting on Friday were approved.

Commenting on the result, Chairman Peter Sjӧlander said: “I am pleased that our shareholders have supported the proposed Equity Raise and would like to thank those Shareholders who voted in favour of the proposals before them today. This is a crucial step towards delivering the restructuring of the business and ensuring that Superdry is in the best possible shape to complete its recovery and return to growth.”

Earlier this week, as mentioned, creditors voted their approval for the plan that includes rent reductions at 36 UK stores, with 12 of them paying zero rental.