(Reuters) – French Connection (L:) said on Friday it has amorphous discussions with four absorbed parties apropos a auction of the British accouterment retailer.
The company, which appear aftermost anniversary that it was reviewing all cardinal options, said it has additionally had conversations with several added absorbed parties apropos its plans.
French Connection, which was founded by Chief Executive Officer and Chairman Stephen Marks in 1972, has a bazaar capitalisation of over 51 actor pounds ($67 million), according to Refinitiv Eikon data.
Once accepted for its annoying FCUK cast of clothes and accessories, the aggregation has been in the red for six years. In March, it said it was aing to axis profitable, abacus that it would accede resuming allotment payments back it did.
French Connection said in a account that it expects the cardinal review, including the academic auction process, to achieve during the aboriginal bisected of 2019.
On Oct. 8, the aggregation said it could be awash as it was reviewing its cardinal options, sending its shares surging as abundant as 45 percent on the day.
The retailer, whose brands accommodate its namesake French Connection, Great Plains and YMC, has struggled to differentiate itself from rivals such as Inditex’s (MC:) Zara, which offers a greater array of clothes at cheaper prices.
($1 = 0.7668 pounds)
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