• Home
  • News
  • Business
  • French Connection extends sales process to September

French Connection extends sales process to September

By Huw Hughes

loading...

Scroll down to read more

Business

UK fashion retailer French Connection has extended its sales process until September.

In October, the company’s board announced that it was in the process of “reviewing all strategic options” and following preliminary discussions with “several interested parties” said it expected the strategic review and formal sale process to be concluded during the first half of 2019.

However, the company now says discussions have progressed with a number of interested parties, so it has decided to extend this period until the time of the interim results, which are expected to be published on or about 17 September 2019.

“Notwithstanding the extension of the strategic review and formal sale process, the board continues to believe that French Connection can deliver long-term growth and remains focused on building on the momentum achieved last year and driving the business forward,” the company said on its website.

For the full year ending January 31, French Connection registered an operating loss almost triple year-on-year from 3.8 million pounds to 9.3 million pounds. However, for the first time in seven years, the chain recorded profit of 100,000 pounds on an underlying basis - a significant improvement on the 2.1 million pounds loss recorded last year.

Photo credit: French Connection, Facebook

French Connection