Laura Ashley has raised its stake in troubled menswear retailer Moss Bros for the second time this week.
The fashion to furnishings chain bought 80,000 Moss Bros shares at 45p per share yesterday through its Bagley Investments vehicle, raising its stake to 4.52%. Laura Ashley owns a total of 4,274,744 shares in Moss Bros.
Moss Bros, which issued a profit warning in the run up to Christmas, is a potential takeover target for a Baugur led investment consortium. Baugur, which already owns around 28% of Moss Bros, has said it was considering its options for its holding which could lead to it making a bid for the menswear chain.
However, the Moss and Gee families, who founded the business, could move to block any bid if they believe the chain is undervalued.