Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Berwin snaps up Moss Bros stake

Simon Berwin, boss of menswear supplier Berwin & Berwin, has bought a 4.28% stake in menswear group Moss Bros from members of the Gee family, who co-founded the company.

Berwin & Berwin is a major supplier to Moss Bros, with brands including Ben Sherman and Daniel Hechter. It also manufactures for Austin Reed, Next and Ted Baker.

Berwin said he hoped his support would help the Moss Bros management develop a sound, long-term strategy for the company, which runs the Moss and Cecil Gee chains.

Rowland Gee said that he and his brother Nigel had sold the shares to “a party who can both support and add value to this business”. He added: “Moss Bros contains many great attributes, not least a loyal and highly experienced workforce.”

The Berwin deal follows weeks of speculation about Moss Bros shareholders’ intentions. Both the Gee and Moss families were against a provisional £40m bid from Baugur, which holds a 29% stake in the company.

Baugur dropped its bid plans last month.

Moss Bros said last week that it would target a more fashion-conscious shopper and continue to refurbish its store portfolio, now that the “distraction” of the Baugur bid had been removed.
Like-for-like sales for the 19 weeks to June 7 fell by 1.5%.

Fashion and homewares chain Laura Ashley has a 10.5% stake in Moss Bros. Moss Bros chairman Keith Hamill left the business last week.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.