French Connection issued a statement on Monday, confirming rumours that the brand could be up for sale.
It said it is ‘currently reviewing all strategic options… which include the potential sale of the company.’
Mike Ashley, the owner of Sports Direct and House of Fraser, owns a 27% stake in the company. 40% is owned by founder, Stephen Marks.
French Connection has made a loss every year in the last five years. They currently operate nearly 400 stores in 50 different countries, 130 of them being in the UK.
Stephen Marks is both chairman and chief executive of the struggling brand, which is often frowned upon by UK investors.
The company is currently valued at £41 million after shares were priced at 41p each on Friday.
