×
64 875
Fashion Jobs
MACY'S
Colleague, Visual Security Officer, Glendale Galleria - Flex
Permanent · Glendale
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Birmingham
JORDAN
Jordan Brand Planning Manager - Dick's Sporting Goods
Permanent · Pittsburgh
ROSS STORES
Store Protection Specialist
Permanent · El Cerrito
ROSS STORES
Store Protection Specialist
Permanent · Commerce
MARSHALLS
Retail Department Supervisor--Stockroom/Warehouse
Permanent · Slidell
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Upland
ULTA BEAUTY, INC.
General Manager
Permanent · San Antonio
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Orem
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Pearland
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Columbus
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Winston-Salem
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Shreveport
KOHLS
Full-Time Loss Prevention Officer
Permanent · Aurora
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · West Bloomfield Township
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Blue Springs
KOHLS
Full-Time Loss Prevention Officer
Permanent · Chino
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Canton
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Washington
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Lansdale
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Hamden
ESTÉE LAUDER
Aveda Sales Executive Director - Minneapolis, mn
Permanent · Minneapolis
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.