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Activist investor buys stake in Moss Bros

Gatemore Capital Management has bought a 10% stake in men’s formalwear retailer Moss Bros. 

The purchase of the stake was announced on the London Stock Exchange this morning.

Gatemore Capital Management also previously owned an 8% stake in French Connection and in 2017 led a group of investors in pushing for changes to the fashion retailer’s management.

There is speculation that there will be similar pressure from the fund manager at Moss Bros, which reported a loss before tax of £1.7m in its most recent full-year results to 28 July 2018. 

However, total sales edged up 1.5% year on year for the 15 weeks to 11 May, driven by online and full-price sales. 

Former Joules chief executive Colin Porter was appointed as chairman in May. 

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