The founder of French Connection has hoisted a “for sale” sign over the business, causing the fashion chain’s share price to soar.
The high street retailer announced that it was weighing a potential sale and was reviewing its “strategic options”, as it moved to clarify weekend speculation.
The prospect of a new owner sent shares rocketing 45pc in morning trading, before paring gains to trade 25pc ahead at 53.5p in the afternoon.
Such a move would see founder-chief executive Stephen Marks offload his 41.6pc stake, bringing to a close nearly 50 years in charge of the business.
French Connection has endured mixed fortunes under Marks.
His foray into fashion was born out of disappointment.