French Connection puts 14 shops up for sale
Struggling fashion retailer French Connection has put 14 of its larger shops up for sale in shopping centres across the UK.
The retailer has appointed property agent Ashley Phillips Lahaise to sell the leases on the 14 shops, which include outlets in Bluewater, Brent Cross, Lakeside, Uxbridge, Bromley and Kingston.
Chief executive Stephen is currently conducting a review of the business after its UK and European retail business made a loss of £8.2 million in the year to 31 January and the company’s pre-tax profits slumped 32% to £5 million. Marks described last winter as “the most difficult winter season I have seen in all the years I have been in business”.
French Connection operates around 70 stores in the UK and Ireland together with 46 concessions including some in Europe.
Never Miss a Retail Update!The company said its appointment of Ashley Phillips Lahaise did not mean that the 14 stores put up for sale would definitely close and said it was “examining all options”.
