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Moss Bros chief executive expected to leave

Moss Bros chief executive Philip Mountford is understood to be looking to exit the menswear retailer after a £40 million takeover of the business collapsed yesterday.

Icelandic investment giant Baugur said there was too high a risk that the bid it has been plotting since February would not go through, given the aggressive stakebuilding in Moss Bros by Laura Ashley, the home furnishings group.

Moss chairman Keith Hamill has already stated his intention to leave at the end of the bid process.

A Moss Bros spokeswoman declined to comment.

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