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		</div><p>Mike Ashley&#8217;s Sports Direct has bought an 11% stake in French Connection, raising fresh questions over the troubled fashion retailer&#8217;s future.</p>
<p>The maverick billionaire made his share raid after fund manager Schroders dumped a 9% stake on Wednesday, with Mr Ashley (pictured) hoovering up an additional 2% on the open market.</p>
<p>The Newcastle United owner has a history of building up positions in rival retailers, having previously bought stakes in Debenhams, JD Sports and privately owned House of Fraser.</p>
<p>It is unclear whether Mr Ashley intends to make a move to acquire the business.</p>
<p>French Connection, famous for its FCUK merchandise, already has commercial arrangements with Mr Ashley for its clothing to be sold in Sports Direct stores.</p>
<p>Mr Ashley&#8217;s manoeuvre comes at a difficult time for French Connection with the retailer battling falling profits and sliding sales.</p>
<p>To compound matters, a group of investors &#8211; Gatemore Capital Management OTK and Zoar Invest &#8211; are pressing for a boardroom shake-up.</p>
<p>Among their demands are forcing founder Stephen Marks to relinquish his double role as chairman and chief executive.</p>
<p>Mr Marks, who launched the business 44 years ago and holds a 41% stake, has struggled to revive French Connection&#8217;s fortunes following the rise of fast-fashion brands such as ASOS and Zara.</p>
<p>In September, French Connection recorded a half year pre-tax loss £7.9 million, with total revenue sliding 8.7% to £69.2 million.</p>
<p>French Connection said in a statement: &#8220;We note that Sports Direct has taken long-term significant stakes in a number of British retailers in recent years, and see this investment as a vote of confidence in the true potential of our company. We look forward to working with them more in the future.&#8221;</p>
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