Procedures for taking over French Connection fields Business

French Connection received two separate takeover approaches from potential suitors, raising the struggling retailer’s shares by two-thirds in morning trading.

Retail investor Spotlight Brands has contacted the company about a takeover bid with the backing of restructuring and investment firm Gordon Brothers, which bought the Laura Ashley brand last year.

The retailer said it had also received a potential separate offer from the Go Global Retail branded investment platform.

French Connection, worth around £ 15million, said: “Discussions with Spotlight and Go Global remain at a very early stage. Therefore, there can be no certainty that an offer will be made. , nor as to the terms on which the offer could be made. “

The brand had struggled before the pandemic hit – it hasn’t been profitable for nearly a decade – but continued lockdowns have only made its woes worse.

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This notice was published: 2021-02-05 12:06:28