The British retailer has confirmed that they are in early talks with two groups regarding a potential takeover.
French Connection is among a number of other British brands that have suffered significantly from the ongoing disruptions of the Coronavirus pandemic. In French Connection’s most recent financial update in October 2020, the brand reported its toughest trading period and recorded underlying losses of £12.2M in the six months to July 31.
Now, the brand has been approached by two groups – Go Global Retail and Spotlight Brands, with backing from Gordon Brothers – and has confirmed they are in early talks for a potential takeover. Both brands have until 5pm today (Friday February 5) to confirm if they are interested in acquiring the brand, however this can be extended.
Since news broke of the interest from the two parties, French Connection has reported a 40 per cent jump in its share prices, with a valuation of around £15.2M.
