Stephen Marks, the chairman and chief executive of French Connection, has hoisted a “for sale” sign over the struggling fashion business he founded in 1972.
The chain once best known for its Fcuk label said in a statement, which will be issued to the London Stock Exchange today: “The board confirms it is currently reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the company.”
Numis, the company’s corporate broker, has been appointed as financial adviser and has approached prospective bidders who might be interested in snapping up the 42% shareholding of Mr Marks, 72. Given the size of his stake, any prospective deal is likely to trigger a takeover offer for the whole company.
