French Connection turns to Hilco to boost liquidity
French Connection has secured funding from turnaround-specialist Hilco Capital for two years as part of a deal to help the fashion-retailer weather the COVID-19 pandemic. French Connection did not meet the requirements to qualify for government financing schemes and will use the £15m to cover its cash requirements.
The company reopened stores from mid-June and has reported growing sales volumes week-on-week. Ecommerce was also performing well with sales up 24% in the UK and US over the last 15 weeks. The group said that it was confident it was well positioned to successfully navigate the current period of uncertain consumer demand.