French Relationship has received two separate takeover approaches from prospective suitors, sending the struggling retailer’s shares a two-thirds better in early morning investing.
Retail investor Spotlight Brand names has approached the organization with regards to a takeover bid with backing from restructuring and financial commitment business Gordon Brothers, which acquired the Laura Ashley brand name very last 12 months.
The retailer said it experienced also received a separate prospective offer from brand name financial commitment platform Go World Retail.
French Relationship, which is valued at close to £15m, stated: “Conversations with both of those Spotlight and Go World continue to be at a really early stage. Accordingly, there can be no certainty that an offer will be designed, nor as to the conditions on which any offer could possibly be designed.”
The brand had been struggling just before the pandemic struck – it has not been financially rewarding in nearly a decade – but rolling lockdowns only additional to its woes.