Laura Ashley raises stake in Moss Bros again

Laura Ashley has upped its stake in Moss Bros

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Laura Ashley has raised its stake in menswear business Moss Bros to just below 10%.

The fashion and homeware retailer has bought 2.2 million Moss Bros shares at 46p via its investment vehicle Bagleys Investments, giving it a stake of 9.79%.

Moss Bros is currently the subject of a potential 42p per share bid offer from Icelandic investor Baugur.

However, Laura Ashley has been consistently building its stake in the menswear chain since the beginning of the year, sparking speculation that it could make a counter offer.