French Connection Group PLC (LON:FCCN) shares jumped after the fashion retailer confirmed it has received two separate bid approaches.
The group, which like many retailers has had a mixed time in the past year, said it has been buttonholed by Sweaty Betty backer Spotlight Brands in conjunction with restructuring and investment firm Gordon Brothers, which bought the Laura Ashley brand from administrators last year.
French Connection, which in 2018 said it was reviewing “all strategic options” but said last year that it was no longer up for sale, said the other approach was made by Go Global Retail, a US ‘brand investment platform’, in conjunction with HMJ International.
Both Spotlight and Go Global Retail have until 5pm on March 5 to announce firm interest.
Shares in the company were up 79% at 28p in early trading on Friday, up from 10p at the start of the week.