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French Connection Up For Sale

Written by Robert Moore Marketing Manager 8 October 2018

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French Connection Up For Sale

French Connection have confirmed they are up for sale.

Advisors to chairman and chief executive, Stephen Marks, have approached prospective bidders for his 42% shareholding.

A statement was released by the struggling retailer themselves, in response to press speculation over the weekend. They announced that they are ''currently reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the company''.  There is no certainty that offers will be made, nor any certainty regarding the terms for which any offer will be made.

Numis Securities have been appointed as the financial adviser.

Only last month, the fashion chain reported a loss of £15 million in the first half and announced plans to close eight stores this year.  For the last five years, losses have been made. They have also faced criticism from their 'fcuk fashion', 'fcuk advertising' campaigns. Last year, two new independent directors were appointed after investors demanded top-level changes.

27% of the company is held by Mike Ashley of Sports Direct group and most recently House of Fraser.

Will a buyer be found? Could this be the end for FCUK?

Categories: Retail

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