French Connection launches formal sale process.
The group is in initial discussion with another three parties – which have not been named – regarding a sale.
The takeover approaches have come more than a year after French Connection called off plans to find a buyer last year.
French Connection launches formal sale process.
The group is in initial discussion with another three parties – which have not been named – regarding a sale.
The takeover approaches have come more than a year after French Connection called off plans to find a buyer last year.
In early February, the fashion retailer said it had received two approaches – one from Gordon Brothers International and Spotlight Brands, and another from Go Global Retail – over a potential takeover.
Last month, Mike Ashley’s Frasers Group sold its stake in French Connection after interest from the investment groups buoyed its share price.
The fashion retailer was founded by Stephen Marks in 1972 but has seen sales impacted by the turmoil in retail in recent years, with the impact of the Covid-19 pandemic exacerbating its woes.
In December, French Connection said it had seen “encouraging” sales after some stores were able to reopen before the latest national lockdown came into force in January.
The takeover approaches come more than a year after French Connection called off plans to find a buyer following a year-long search.
