An investment firm company lead by Manchester-born entrepreneur Michael Flacks has until March 25 to make a firm offer for Laura Ashley.
Florida-based Flacks Group said on Monday it was in the “very preliminary stages” of considering a bid. If it did so, it would be no more than 2.748p a share in cash, valuing the retailer at £20m.
Laura Ashley shares closed 7% higher on Monday at 3.47p, giving it a market value of £24.4m.
