Unbound, which owns Hotter Shoes and has been developing an online marketplace hosting complimentary third-party mature market brands, has attracted the interest of WoolOvers Group (WG).
It is understood that the board of Unbound has said that it would recommend an offer by WG should talks progress and result in an offer being made. This would see Unbound shareholders receiving 10.5p in cash and 1 contingent value right per Unbound share. The contingent value right would give Unbound shareholders the right to receive any net proceeds if Unbound’s ongoing business interruption insurance claim relating to the Covid-19 pandemic lockdowns succeeds.
Hotter sells its footwear range through online and wholesale channels with 17 stores and a further 7 concessions sited within garden centres.
WG very recently acquired Scotts out of administration via a pre-pack deal.