Market warms to Theo Fennell takeover talks

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EME Capital has until October 3 to place a bid for the jeweller.

The market has reacted positively to the news that Theo Fennell is in preliminary talks with EME Capital about a takeover of the jewellery business.

Shares in Theo Fennell rose nearly 30% yesterday despite a statement from the company that said that talks are in very early stages and might not result in an offer being made. EME Capital has until October 3 to make an offer.

Theo Fennell has been in a shaky financial position for a number of years and despite the much lauded return of its eponymous founder it announced in January that it expected to make a loss in the financial year to March 31 after a “disappointing” Christmas trading period.

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The jewellery brand has tried to set up new revenue streams of late with the major push being the launch of its Alias silver division that it was planning to push through independent retailers such as Steffans, Rox, Lumbers and Fraser Hart.

Theo Fennell opened a standalone store in London’s recently revamped Burlington Arcade in July. Its other boutiques are all located in London, in Mayfair, The Royal Exchange, Harrods and Selfridges.

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