French Connection fields takeover approaches
French Connection has received two individual takeover approaches from probable suitors, sending the battling retailer’s shares a two-thirds greater in morning trading.
Retail investor Spotlight Brands has approached the firm concerning a takeover bid with backing from restructuring and investment agency Gordon Brothers, which acquired the Laura Ashley model last 12 months.
The retailer said it experienced also received a individual probable provide from model investment system Go World wide Retail.
French Connection, which is valued at around £15m, mentioned: “Conversations with each Highlight and Go World wide keep on being at a really early phase. Appropriately, there can be no certainty that an provide will be created, nor as to the terms on which any provide might be created.”
The brand had been battling just before the pandemic struck – it has not been worthwhile in just about a decade – but rolling lockdowns only additional to its woes.
