May 19, 2020 / 8:41 AM / 17 days ago

BRIEF-French Connection Says Could Run Out Of Cash Within Months

May 19 (Reuters) - French Connection Group PLC:

* HAVE BEEN ABLE TO CONTINUE TO OPERATE OUR OWN WEBSITES IN BOTH UK AND USA WITH SALES UP 44% OVER LAST 6 WEEKS

* HAVE BEEN IN ACTIVE DISCUSSIONS WITH A NUMBER OF POTENTIAL FUNDING PARTNERS

* JOB RETENTION SCHEME FOR COLLEAGUES AND RATES RELIEF FOR STORE PORTFOLIO ARE NOW IN PLACE

* HAS HOWEVER PROVED VERY CHALLENGING FOR US, IN LINE WITH OTHER RETAILERS, TO ACCESS ANY OTHER GOVERNMENT FUNDS

* HAVE BEEN IN ACTIVE DISCUSSIONS WITH A NUMBER OF POTENTIAL FUNDING PARTNERS

* BOARD IS CONFIDENT OF RAISING SUFFICIENT FUNDS

* WITHOUT SECURING ADDITIONAL FUNDING AND SHOULD CURRENT COVID IMPACTED TRADING LEVELS CONTINUE, COMPANY’S CASH RESOURCES WILL EVENTUALLY BE ERODED IN COMING MONTHS Source text for Eikon: Further company coverage:

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