French Connection fields takeover approaches

French Connection has received two separate takeover techniques from possible suitors, sending the battling retailer’s shares a two-thirds greater in morning buying and selling. 

Retail investor Spotlight Makes has approached the enterprise relating to a takeover bid with backing from restructuring and expenditure company Gordon Brothers, which acquired the Laura Ashley manufacturer last 12 months. 

The retailer said it had also received a separate possible present from manufacturer expenditure system Go World-wide Retail. 

French Connection, which is valued at close to £15m, said: “Conversations with each Spotlight and Go World-wide remain at a pretty early stage. Accordingly, there can be no certainty that an present will be designed, nor as to the phrases on which any present could possibly be designed.”

The brand had been battling before the pandemic struck – it has not been profitable in practically a 10 years – but rolling lockdowns only additional to its woes.