French Connection said on Tuesday it was mulling a sale and sought potential suitors as Spotlight Brands and Gordon Brothers backed out from making an offer to buy the struggling British fashion retailer.
French Connection’s half-year results showed it “building on good progress” and “on track to meet expectations”, but it's still loss-making. It also said its strategic review would be completed before 2020.
It was a mixed set of results for French connection on Tuesday as the struggling fashion retailer reported an underlying "return to profitability" but still a lot of work to do and key metrics remaining negative.
In a short statement on Monday, French Connection confirmed what had been rumoured for some time with the company saying that it’s looking at its strategy options and one of those could include a sale.