FCUK sees sudden share boost following takeover enquiries

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FCUK London
FCUK London Credit: Justinc CC

THE company with the unusual initials FCUK (French Connection UK) has been struggling for some time but has received takeover enquiries from two potential buyers.

Founded in 1972, the fashion chain built a profitable business but for the past decade seems to have lost its way and even before the Covid-19 hit, was recording annual losses.

Now it has confirmed that it has received enquiries from a consortium of Spotlight Brands, which owns Sweaty Betty and Gordon Brothers International, which now owns Laura Ashley.

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The other interested party is Go Global Retail with HMJ International Services and this news prompted a significant rise in its shares.

With 78 stores and more than 1,000 staff, the current main shareholders are founder Stephen Marks and Frasers Group, the main vehicle for Mike Ashley, owner of Newcastle United Football Club.

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