×
47 085
Fashion Jobs
OLD NAVY
General Manager - Jordan Landing
Permanent · West Jordan
OLD NAVY
Loss Prevention Agent, Multi-Unit - Outlet of Bluegrass
Permanent · Louisville
OLD NAVY
Loss Prevention Agent, Multi-Unit - Outlet of Bluegrass
Permanent · Simpsonville
OLD NAVY
Loss Prevention Agent, Multi-Unit - Outlet of Bluegrass
Permanent · Lexington
NORDSTROM INC
Asset Protection Agent Beverly Connection Rack
Permanent · Los Angeles
NORDSTROM INC
Asset Protection Agent Fig at 7th Rack
Permanent · Los Angeles
NORDSTROM INC
Loss Prevention Security Ambassador International Plaza
Permanent · Tampa
NORDSTROM INC
Asset Protection Agent Valencia Promenade Rack
Permanent · Santa Clarita
NORDSTROM
Asset Protection - Agent - Chicago Rosemont Fashion Outlets Rack
Permanent · Rosemont
NORDSTROM INC
Asset Protection Agent Grove at Farmer's Market
Permanent · Los Angeles
NORDSTROM
Security Ambassador - Houston Galleria
Permanent · Houston
NORDSTROM
Asset Protection - Agent - Village Square Rack
Permanent · Northbrook
NORDSTROM
Asset Protection - Agent - Harlem Irving Plaza Rack
Permanent · Norridge
NORDSTROM
Asset Protection - Agent - Kildeer Village Square Rack
Permanent · Kildeer
NORDSTROM
Asset Protection - Agent - Woodfield Rack
Permanent · Schaumburg
TJ MAXX
District Manager - Boston, ma
Permanent · Boston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Laurel
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Gaithersburg
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Worcester
KOHLS
Full-Time Loss Prevention Officer
Permanent · South Bend
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Terre Haute
COTY
Assistant Brand Manager
Permanent · New York
Published
May 15, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

French Connection rejected bid in January, share price plunged since then

Published
May 15, 2020

Troubled fashion retailer French Connection rejected a private equity takeover bid in January that would have valued the firm at 41.4p a share. 


French Connection



The bid was at a premium of 18% to the share price at the time, and with the shares currently trading at only a little over 5p each, that premium would now be many times higher. At its current share price, the firm has a market capitalisation of less than £5 million.

The bid, which was originally placed in December, came from ex-All Saints/USC chief Stephen Craig in partnership with two private equity firms, according to reports.

But the following month, the board decided not to recommend the bid to shareholders. The news has only emerged now due to the expiry of a non-disclosure agreement.

French Connection had earlier put itself up for sale, but in January said it was no longer in a formal sale process. It also said it wanted to focus on a self-generated turnaround with its store portfolio being right-sized and more investment in online.

The company made a loss of £2.9 million in the year to January but while the previous year had seen it making profits, the figure was only £0.8 million.

It has seen many years of weak performance that have caused its share price to decline. French Connection shares changed hands at a high of 487p each around 16 years ago, but had fallen to 74p a decade later. In more recent times, their highest level was 61p in November 2018, but they’ve been declining steadily since April last year, before falling off a cliff in the wake of the coronavirus crisis.

Copyright © 2021 FashionNetwork.com All rights reserved.