British celebrity jeweller Theo Fennell announced that it is currently talking to various interested parties in order to obtain new investment, reports Reuters. In November, the company said that it had received a tentative offer from an unnamed bidder. “Since that time, it has been approached by a number of other interested parties with whom it is now in discussion and is therefore no longer in exclusive talks with any single party,” Theo Fennell said in a statement. “The current discussions are to secure new investment for the company to enable it to accelerate its business plan of expanding overseas through concessions and franchises.”
The company reported a like-for-like sales growth of 32.7 percent for the December month to Christmas Eve and said that it would meet its profit forecast for the year. Shares rose 5 percent, bringing market capitalisation to around £6.6 million.