The private-equity firm seeking to acquire Theo Fennell, the loss-making retailer of luxury jewellery, has been granted an extension to its deadline to hammer out a deal.
The Takeover Panel had initially given EME Capital until 5pm today to unveil make a “firm” offer for Theo Fennell, whose bling has been worn by celebrities, such as Elton John, Victoria Beckham and Lady Gaga. Following a request from the jeweller’s board, the deadline was today extended till January 11. Theo Fennell, named after its founder and interim managing director, made a loss of £1.7 million last year and has not made a profit since 2007-08.
The upmarket jewellery retailer today said it “remains in offer discussions with EME who are currently reviewing information which has been made available by the company”. Theo Fennell added “there can be no certainty that an offer will be made”.
