Founded in London in 1972, French Connection is a £120m turnover international lifestyle brand with stores across the UK and Ireland, and a global franchise and wholesale business.
The pandemic lockdowns forced the prolonged closure of its retail stores, but strict qualification requirements left the business unable to access any government-backed financing schemes.
Our Role
- Provided a £15m asset-based working capital facility within two weeks, which assisted in stabilising the business
- Straightforward, short facility document (30 pages) allowed for a rapid and smooth transaction
- Covenant-lite facility with simple monitoring allowed the company’s management team to focus on their core business
Results
- Hilco’s loan provided the necessary capital for the business to trade through a difficult period and return to profitability
- Loan was fully refinanced when the business was acquired by new owners and taken private in 2021