French Connection fields takeover approaches

French Connection has received two separate takeover techniques from opportunity suitors, sending the struggling retailer’s shares a two-thirds better in early morning trading. 

Retail investor Spotlight Brands has approached the enterprise about a takeover bid with backing from restructuring and financial commitment company Gordon Brothers, which acquired the Laura Ashley manufacturer previous year. 

The retailer said it experienced also received a separate opportunity supply from manufacturer financial commitment system Go Worldwide Retail. 

French Connection, which is valued at all-around £15m, mentioned: “Conversations with equally Spotlight and Go Worldwide keep on being at a extremely early stage. Accordingly, there can be no certainty that an supply will be manufactured, nor as to the phrases on which any supply might be manufactured.”

The brand had been struggling ahead of the pandemic struck – it has not been lucrative in nearly a 10 years – but rolling lockdowns only extra to its woes.