French Connection has announced it is in discussions with four interested parties regarding a sale of the business.
The news comes after a statement on 8 October revealed the company was “reviewing all strategic options” over the future of the business including a ”potential sale of the company.”
The business said it has started conversations with four unnamed parties and has had conversations with ”several other interested parties regarding the company’s plans”.
French Connection is still accepting proposals through investment bank Numis Securities.
Group revenue at French Connection fell by 2.4% to £58.1m in the six months to 31 July, which the retailer blamed on a reduced store portfolio and ‘tough retail trading’.
Like-for-like sales across the UK and Europe slipped by 7% but wholesale revenue was up by 6.2%. Underlying operating loss before tax was reduced to £5.5m, compared to £5.9m the previous year.
Chairman Stephen Marks said the business was on target to return to profit before the end of the year.