French Connection’s board has abandoned plans to sell the struggling business and instead will continue to focus on a turnaround following the conclusion of a strategic review.
The fashion retailer said this would include “further right sizing” of its store portfolio as it renegotiated the cost base of its ongoing stores.
The board added that it expects to report a pretax loss of between £1m and £2m in it full-year results, which it said reflected the continued challenging trading conditions on the UK high street.
“UK trading in both the retail and wholesale businesses has been more difficult during the second half of the year, especially during the fourth quarter,” the board added.
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