French Connection has confirmed the speculation that it is seeking a buyer for the stake in the retail business owned by its founder Stephen Marks. The business which was founded in 1972 sold off its interest in Toast earlier this year and has been battling for five years to return to profit. In a formal statement issued to the Stock Exchange it confirmed that it is considered that French Connection is in an offer period. (Mike Ashley’s Sports Direct holds 26.7 per cent of the shares having acquired them from Gatemore Capital).
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