French Connection drops sale plans
Fashion retailer French Connection has said it is no longer in a formal sales process and that it will now be focusing on completing its turnaround following a strategic review.
The news comes over a year after the retailer said it was looking at a potential sale of the business.
In a statement, French Connection said it will now be looking to “right size” its store portfolio while renegotiating the cost base of existing stores. It will also increase investment in its online platform and work to grow its wholesale business in the US.
The retailer also said that it expects to make a pre-tax loss of between £1 million and £2 million in the year to 31 January.
It added: “UK trading in both the retail and wholesale businesses has been more difficult during the second half of the year, especially during the fourth quarter.”
