Speciality Retail Group (SRG) managing director Nick Keyte has left the business just two months after a restructuring in which part of its operation were relocated to and merged with its stablemate Baird Group’s head office in Leeds.
Keyte left SRG, which runs the 75-store Suits You menswear chain, the Young’s Hire operation and the Racing Green business, after three years there to pursue new opportunities. Keyte will not be replaced and Baird Group chairman Peter Lucas will take overall control of the former SRG retail operation.
The Suits You and Racing Green stores will be run in a new group retail trading division by sales director David Basterfield. The buying and merchandising function for Suits You will be headed by Craig Faraday.
In May, the SRG operation, which is majority owned by Egyptian supplier Arafa Holding, became part of the Baird Group, which owns and distributes menswear brands such as Gibson London and Baracuta and which is also majority owned by Arafa Holding.
Lucas said trade in the middle-market menswear sector picked up in April but had since been tough.
Separately, Baird Group’s Young’s Hire operation will put concessions into 10 House of Fraser shops in the autumn. It is not expected to affect Moss Bros’s eight hire departments within HoF.
The business is also in talks with independent department stores to put its Young’s Hire operation in their shops.