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Cash-strapped fashion retailer French Connection warned that if it failed to secure funds it cash reserved could dry up within the next couple of months.
'Without securing additional funding and should the current Covid impacted trading levels continue, the company's cash resources will eventually be eroded in the coming months,' the company months.
The company said it was in active discussions with a number of potential funding partners amid expectations for the weak trading environment to continue.
While its stores and concessions continued to be closed, the company had been able to continue to operate its own websites in both the UK and USA with sales up 44% over the last 6 weeks.
'The board is confident of raising sufficient funds to support the business until the return of trading levels that are able to support the ongoing operations. This process is proceeding well and we are making good progress on due diligence and agreeing terms,' the company said.
Following the UK Government's recent update regarding the potential phased reopening of stores from 1 June, the company said it was planning to open up in an orderly manner to ensure everything required is in place. At 10:12am: (LON:FCCN) French Connection Group PLC share price was -0.15p at 5.5p