Laura Ashley raises stake in Moss Bros

Laura Ashley has raised its stake in Moss Bros

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Laura Ashley has increased its stake in beleaguered menswear retailer Moss Bros to 5.6%.

A notification to the stock exchange yesterday revealed Laura Ashley had purchased a further 165,750 Moss Bros shares at 45.86p. In January, Laura Ashley raised its stake in Moss Bros to 4.44%. It has increased its stake on a number of occasions in recent months.

Last week, Moss Bros received an indicative cash offer of 42p a share from a consortium led by Icelandic giant Baugur but the offer has angered family shareholders who are encouraging other investors to make a rival bid for the firm. Laura Ashley has been linked with a possible rival offer.