French Connection, the UK-based fashion retailer, has been lately attracting interest from several firms.
The retail stalwart is now considering sale as it gets approached by two investment firms.
Spotlight Brands, together with London-based investment services firm Gordon Brothers, eye the fashion retailer. And they are not alone in the race!
Retail investment platform Go Global Retail in association with a global investment firm HMJ International Services have also approached French Connection regarding the sale. However, the discussions are still in the initial stages.
As per the City Code on acquisitions, both the investment firms, Spotlight and Go Global Retail, must announce a firm intention to make an offer for French Connection by 5 PM on 5 March 2021.
More on the same, the retailer said that the talks are still in the early stages and also added that there’s even uncertainty that any offer is made. It also said that further announcements will be made in due course.
Last year, when the retail world was badly hit by the pandemic, French Connection too suffered losses and it had warned that it may run out of cash soon.
Notably, in December last year, the retailer received additional fund of US $ 6.5 million for its US business.
French Connection distributes its apparels and accessories through its own stores in the UK, US and Canada and also through franchises globally.