French Connection fields takeover approaches

French Relationship has received two individual takeover strategies from probable suitors, sending the battling retailer’s shares a two-thirds larger in morning investing. 

Retail investor Spotlight Models has approached the company with regards to a takeover bid with backing from restructuring and financial investment firm Gordon Brothers, which acquired the Laura Ashley manufacturer past year. 

The retailer said it had also received a individual probable offer from manufacturer financial investment system Go World-wide Retail. 

French Relationship, which is valued at around £15m, reported: “Discussions with the two Highlight and Go World-wide keep on being at a very early phase. Appropriately, there can be no certainty that an offer will be built, nor as to the terms on which any offer could be built.”

The brand had been battling before the pandemic struck – it has not been lucrative in virtually a ten years – but rolling lockdowns only added to its woes.