French Connection puts 14 shops up for sale
Wednesday 02 May 2012
The beleaguered fashion chain French Connection has put up the "for sale" sign outside 14 of its UK shops in large shopping centres across the UK.
Shops at locations including Birmingham's Bullring, the Metro Centre in Gateshead, Kent's Bluewater, London's Brent Cross and Essex's Lakeside are all up for grabs.
The brand, once famous for its FCUK branded T-shirts, has been struggling in recent years with City analysts and fashion gurus saying it has lost its way.
French Connection has hired property agent Ashley Phillips Lahaise to sell the leases of the 14 shops, which also include outlets in shopping centres in Reading, Watford and Kingston. It will only close the shops if another retailer takes over the leases.
French Connection, which has 71 shops in the UK and Ireland and 46 concessions in the UK and Europe, has fared better in emerging markets and plans 12 shops in China and 15 in India.
Its chief executive and chairman, Stephen Marks, is conducting a review of the business following the "most difficult winter season I have seen in all the years I have been in business".
Its UK and European retail business made a loss of £8.2m in the year to 31 January, while profits plunged 32 per cent to £5m.
As part of the review, it sold off its Nicole Farhi business last year.
French Connection shares, which hit 487p in 2004, closed down 0.25p to 42.75p.
- 1 Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
- 2 Moscow voted the world's unfriendliest city
- 3 The excuses your boss is most likely to believe when you call in sick
- 4 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 5 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The one chart that shows how George Osborne is almost certainly going to be our next Prime Minister
The excuses your boss is most likely to believe when you call in sick
Bono's group has made more money from Facebook investment than from all his music
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...