BGN Entrepreneur

The retailer chain–French Connection is undertaking a cost-cutting drive, including the closure of its Northern European arm and head office job losses.
The company just announced that as pre-tax losses doubled to almost £13m, it went on to be ’severely affected’ by the slump. Pre-tax losses of the group have increased from £5.4m to £12.8m in the half year to 31 July.  50 jobs at head offices in London, New York and Hong Kong have been axed by the company and it has also lost five stores and concessions in Scandinavia. Advertising has also been cut back as French Connection battles tough conditions.
The company said it would take ‘further measures’ over the next half year to try to stem the losses.

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