French Connection, the struggling UK-based fashion retailer, has, reportedly, received two takeover approaches from potential buyers.
The retailer told the media that it has been approached by the retail investor Spotlight Brands – with a strong backing from investment company Gordon Brothers.
Here it is important to state that only last year Gordon Brothers had acquired Laura Ashley following the latter’s collapse into administration. Similarly, Spotlight Brands has also consistently supported British fashion brands including Sweaty Betty.
French Connection received its second approach from the brand investment platform Go Global Retail, jointly with HMJ International Services.
In a statement released to investors, French Connection said that discussions with both Spotlight Brands and Go Global Retail were still in early stages.
However, the British clothing retailer did add that any offer, if and when it is made, will in all likelihood be in cash.
French Connection was founded in 1972 and includes brands like Great Plains, Toast and YMC.The retailer recorded a £7.3million pre-tax loss in its last annual results.
We will keep you posted of all latest developments at French Connection. Stay connected.