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French Connection fields takeover approaches

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French Connection has received two separate takeover approaches from potential suitors, sending the struggling retailer’s shares a two-thirds higher in morning trading. 

Retail investor Spotlight Brands has approached the company regarding a takeover bid with backing from restructuring and investment firm Gordon Brothers, which bought the Laura Ashley brand last year. 

The retailer said it had also received a separate potential offer from brand investment platform Go Global Retail. 

French Connection, which is valued at around £15m, said: “Discussions with both Spotlight and Go Global remain at a very early stage. Accordingly, there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made.”

The brand had been struggling before the pandemic struck – it has not been profitable in nearly a decade – but rolling lockdowns only added to its woes.

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