Laura Ashley raises Moss stake to 6.61%

Laura Ashley has raised its stake in Moss Bros

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Fashion to furnishings retailer Laura Ashley has raised its stake in Moss Bros to 6.61%. 

Laura Ashley bought 125,000 shares at 46.7p each through its wholly-owned subsidiary, Bagleys Investments. It now holds around 6.2 million shares in the menswear retailer, equivalent to a 6.61% holding.

Baugur, which owns a 29% stake in Moss Bros, is close to completing due diligence on the chain. It made an indicative offer of 42p per share for the retailer earlier this year. However family founders and shareholders in Moss Bros believe the offer undervalues the business and are encouraging rival bidders to make a play for the menswear business.

Several other parties have been linked to a bid for Moss Bros but most have since walked away. However Laura Ashley's intentions remain unclear.