THEO Fennell has been given a further four weeks to conclude protracted discussions that could lead to a takeover of the jeweller famed for its celebrity clientele.
EME Capital, the London-based boutique finance house, now has until 28 June to declare whether it will make a bid. It is the seventh extension to be granted since it emerged in September that the two sides were in preliminary negotiations.
In a statement to the London Stock Exchange, Theo Fennell said the anticipated timetable for discussions was “consistent with the newly-extended deadline”. However, the jeweller added that there was no certainty that an offer would be forthcoming.
Though favoured by big names such as Elton John, Cheryl Cole, Lady Gaga and Victoria Beckham, left, Theo Fennell has suffered a decline in demand as the economic downturn has cut into luxury expenditure. Following a disappointing Christmas trading period, the company warned in January that its full-year results would be “materially below” expectations.