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French Connection director pay could spark revolt

Fashion chain French Connection faces an investor revolt over proposals on director pay.

The retailer has fended off previous shareholder opposition but it has posted two profit warnings in the past six months.

French Connection reported an £8.2m loss from UK retail in its year to January 31 and has begun to offload stores. It has put 14 of its 71 stores up for sale after launching a review of its retail division in March.

However, founder Stephen Mark’s pay soared by 60% to £487,000 last year. The retailer is understood to be confident of riding out the opposition, according to The Mail on Sunday, as Marks holds 42% of shares.

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