Fashion retailer French Connection is due to leave one of its biggest stores on Regent Street. The landlord of the prime location in Regent Street has asked French Connection to leave before the end of its lease in return for a £2.4 million compensation payment.
The landlord wishes to recover possession in order to redevelop the site and it looks like it has negotiated a surrender of the lease with FC before the end of its term. The FC brand posted trading losses earlier this year and has already closed six under-performing stores.
French Connection will leave its shop on London’s Regent Street and shut seven unprofitable stores as the lossmaking fashion brand accelerates its closure programme. The company will vacate the shop on Regent Street – one of its biggest stores – in March at the request of the building’s owner. French Connection will receive £2.4m in compensation from the landlord, which plans to redevelop the site.