Menswear firm offloads Moss Bros stake

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The Independent Online

A 29 per cent stake in the men's suitmaker Moss Bros that was once owned by Sir Philip Green changed hands again yesterday at a profit to the sellers of about £4m.

A trust headed by Simon Berwin of the menswear supply business Berwin & Berwin has sold more than 28 million shares in Moss Bros for 43p a share. The investment consortium bought the stake in 2008 for just under 29p from Sir Philip.

Moss Bros, under new management and doing much better than it was, said Mr Berwin would stand down from its board.

The stake was sold to institutional investors new to the Moss Bros shareholder register, it is understood. It is not yet clear whether any of those investors will go over the 3 per cent level at which point they will have to reveal themselves to the market.