• Will Adderley takes 5% stake in French Connection  
  • Adderley reprised deputy chairman role at Dunelm this month after a year as interim CEO

Dunelm Group founding family member Will Adderley has taken a 5.16% stake in French Connection through his investment vehicle WA Capital. 

Holding company WA Capital was established by Adderley and until November 2014, when his wife became a shareholder, he was its sole director.  

Adderley became deputy chairman of value homewares retailer Dunelm Group this month after holding the chief executive role for just over a year.

Former Monsoon boss John Browett took on the reins from Adderley this month.

French Connection has struggled of late, and in November made the decision to close seven unprofitable stores, three in the UK and four in the US, by the end of this month.

It will also close its loss-making Regent Street store in March. 

The fashion retailer did recover its sales performance during the 16 weeks to 21 November as like-for-likes inched up by 0.2%.