Struggling retailer French Connection has received two takeover approaches.
The listed company responded to a 40% hike in its share price yesterday by confirming that it has fielded separate approaches from Spotlight Brands and Go Global Retail.
French Connection said discussions with both companies are at a “very early stage” and may not lead to an offer. Spotlight Brands is working with Gordon Brothers International, while the approach from Go Global Retail is in conjunction with HMJ International Services.
Under the UK’s takeover rules, any bid from either party must be made by 5pm on 5 March.
French Connection said in a December trading update that its management team saw “considerable challenges” ahead but considered the company “well positioned to capitalise on any opportunities that arise”. Earlier in the year it had said a rise in store closures was likely in the UK and Europe.
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