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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…

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

28 March, 2023 | by Angela Beevers

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.

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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.

Angela Beevers Director of Content & Events Strategy

Angela Beevers is Director of Content & Events Strategy at The Retail Bulletin, where she has worked since 2011. She leads the publication's news team and oversees its daily coverage of the UK retail sector, from breaking developments to the early-morning release of retailers' trading updates and financial results. Over more than 15 years at The Retail Bulletin, she has interviewed many of the industry's most innovative founders and leaders. She also shapes content for The Retail Bulletin's events and leads delegate engagement for its most high-profile events. Her areas of focus include: Retail news · Trading updates and financial results · Retail leadership · Industry events

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