French Connection is likely to collapse, without securing an imminent financial lifeline. For the 12 months to January 31 last year, the company’s operating loss almost tripled, from £3.8 million (US$4.97 million) in 2018 to £9.3 million ($12.2 million). It did however record an underlying profit, a somewhat modest £100,000 which was a stark contrast to the previous year’s £2.1 million loss.
“We are planning to open up in an orderly manner to ensure everything required is in place. We look forward to returning to more normal levels of trade as the situation evolves, although we do not expect this for some time to come.” – the company said in a statement.
