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Unbound Group shares double after bid approach for over-55s fashion retailer

Unbound Group, the owner of the Hotter Shoes brand, has confirmed it is in discussions with WoolOvers Group “in relation to a possible cash offer” for the issued share… View Article

FASHION RETAIL NEWS UK

Unbound Group shares double after bid approach for over-55s fashion retailer

Unbound Group, the owner of the Hotter Shoes brand, has confirmed it is in discussions with WoolOvers Group “in relation to a possible cash offer” for the issued share capital of Unbound.

WoolOvers is a knitwear and lifestyle brand that targets a similar customer demographic to Hotter – financially resilient 55+ consumers. The company operates online across the UK and internationally. Earlier this month it acquired the Scotts Ltd business in a pre-pack deal.

Stock in Unbound Group doubled in value after it said it is considering a bid approach that values the business at £6.8mln.

The 10.25p a share offer from WoolOvers Group represents a 162.5% premium to Monday’s close and is still 28% ahead of the current price of 8p.

Unbound said it would be “minded” to accept the deal if a firm offer is made for the business.

The group has been beset by trading difficulties exacerbated by last summer’s heatwave and Royal Mail strike action.

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