French Connection delays company sale
Fashion retailer French Connection is set to delay completion of its sale to September, to coincide with the company’s interim earnings report. Talks will still be ongoing with interested parties in the meantime.
The statement from the company released today (28 June) said: “Discussions have progressed since then and are ongoing with a number of interested parties. As a result, the board has extended the period for completing the strategic review and formal sale process.”
In October, the board announced that it was in the process of reviewing all strategic options in order to deliver maximum value for its shareholders, which included a potential sale.
The retailer had earlier expected the strategic review and formal sale process to conclude during the first half of 2019.
French Connection founder Stephen Marks currently holds a 42% stake in the business as well as the dual-role of both chairman and chief executive. Sports Direct and House of Fraser owner Mike Ashley also has a 27% stake in French Connection.
