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French Connection leaps on sale suggestion

Loss-making clothing and homewares chain French Connection has seen its share price leap after it said it could be for sale.

The group said it was ‘currently reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the company.’

The share price jumped by a quarter to 55p, valuing it at £53m.

The chain has not made a profit for five years.

Founder and executive chairman Stephen Marks owns 40% of the shares and Sports Direct 27%.