- Huw Hughes
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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
