French Connection pushes back sale deadline amid ongoing talks

28th Jun 2019 12:59

(Sharecast News) - Fashion retailer French Connection said the deadline for completion of its strategic review and formal sale process has been extended until its interim results in September, amid ongoing discussions with a number of interested parties.The company confirmed back in October 2018 that it had begun preliminary discussions about a sale with four interested parties and on Friday, it said that "discussions have progressed since then". At the time of the update last year, the group said it expected the strategic review and the sale to conclude in the first half of 2019."Notwithstanding the extension of the strategic review and formal sale process, the board continues to believe that French Connection can deliver long-term growth and remains focused on building on the momentum achieved last year and driving the business forward."French Connection's interim results are due on 17 September.Independent retail analyst Nick Bubb pointed out: "We are not told why things have taken so long or what the options are or whether Sports Direct is still interested or what recent trading has been like."