×
1 808
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - House of Fraser, Maidstone - 15 Hours - Part Time, Permanent
Permanent · Maidstone
ESTÉE LAUDER
Clinique - Consultant - Boots, Princes Street, Edinburgh - 14 Hours - Part Time - Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
HUGO BOSS
Wholesale - Senior Sales Executive - Hugo Womenswear
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Edinburgh - 16 Hours - Part Time, Permanent
Permanent · Edinburgh
SHISEIDO
Marketing Director - Shiseido, Clé de Peau Beauté, Drunk Elephant
Permanent · London
REISS
Buying Admin Assistant
Permanent · LONDON
SHISEIDO
Bareminerals Account Manager - Boots Glasgow Silverburn (37.5 Hours)
Permanent · Glasgow
SHISEIDO
Bareminerals Account Manager - House of Fraser Guildford (37.5 Hours)
Permanent · Guildford
SHISEIDO
Laura Mercier Account Manager - John Lewis Bluewater (37.5 Hours)
Permanent · Dartford
SHISEIDO
Nars Stock Manager - Selfridges London (37.5 Hours)
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots-Oxford Street, London - 7.5 Hours - Part-Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots, Eastbourne - 5.5 Hours - Part Time, Permanent
Permanent · Eastbourne
MONCLER
Store Operations Manager - Flagship London
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 12 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Barkers, Northallerton - 5.5 Hours - Part Time, Permanent
Permanent · Northallerton
BURBERRY
App Officer - Sloane Street
Permanent · LONDON
360 TALENT LONDON
​Sales Supervisor
Permanent · LONDON
ESTÉE LAUDER
Consumer Marketing & Event Coordinator, Mac And jo Malone London - Travel Retail Emea (Based London)
Permanent · London
Advertisements
Published
Sep 23, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

French Connection reveals 30p-a-share takeover approach

Published
Sep 23, 2021

Under-pressure fashion retailer French Connection said on Wednesday that it had received a takeover approach as part of the formal sale process it kicked off back in March.


French Connection


Its stock exchange release came as its share price jumped more than 20% in morning trading on bid speculation and was in direct response to that leap.

The firm said it has “received an approach from a consortium of bidders including the company's second largest shareholder Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited”.

They’re potentially offering 30p per share in cash, although whether other investors think it will result in a deal is open to question as the share price had only risen to just under 27p each by late morning, giving it a market valuation of less than £26 million.

Discussions with the consortium “remain ongoing” and French Connection stressed that there’s no certainty of a deal.

The retailer has seen a number of bleak years that led to it closing stores and putting itself up for sale. Once on a high with its FCUK logo seen everywhere, it has since seen years of falling sales and losses with investors growing increasingly frustrated.

At the start of March this year, French Connection said it was mulling a sale and was looking for potential suitors . That came as Spotlight Brands with Gordon Brothers, and Go Global Retail in partnership with HMJ International had backed out from making an offer to buy it, even though the investment firms had approached it.

At the time, Frasers Group took advantage of the rising share price to sell its almost-25% in the firm (although it also missed out on a further price rise).

But even if a buyout goes through at 30p, it’s a far cry from the glory days in 2004 when the shares were priced at almost £5 each.

Copyright © 2021 FashionNetwork.com All rights reserved.