Theo Fennell deadline is extended

The private equity investor seeking to acquire Theo Fennell, the loss-making retailer of luxury jewellery, has been granted an extension to its deadline to hammer out a deal.

The Takeover Panel had initially given EME Capital until yesterday to make a firm offer for Theo Fennell, whose creations are worn by celebrities such as Sir Elton John, Victoria Beckham and Lady Gaga, pictured.

Following a request from the jeweller's board, the deadline was yesterday extended until 11 January. Theo Fennell, named after its founder and interim managing director, made a loss of £1.7m last year and has not made a profit since 2007-8. The company said yesterday it "remains in offer discussions with EME, [which is] currently reviewing information which has been made available by the company" but added: "There can be no certainty an offer will be made".