The move is part of the group's restructuring to stop its mounting losses. The fashion retailer behind the FCUK brand will also close about 17 of its US stores, as part of a strategic revamp of the business to return to profitability.
The group said its losses have grown to £24.9m in the year to January 31, from a loss of £16.4m the previous year. However, following the restructuring, including disposal of businesses in Japan and northern Europe, the company managed to make an operating profit of £1.3m on sales of £200.3m.
The sale of the Nicole Farhi brand may have to be approved by shareholders, the company said. French Connection has 123 stores in the UK and Ireland, but the company said it did not expect to close any of these.
