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Moss family stays silent as Sir Philip Green says no to Moss Bros takeover

November 28, 2008

Billionaire retail magnate Sir Phillip Green has said he does not plan to launch a takeover of UK suit retailer Moss Bros, whose founding Moss family retains an 18% stake.

Billionaire retail magnate Sir Philip Green has said he does not plan to launch a takeover of UK suit retailer Moss Bros, whose founding Moss family retains an 18% stake.

Green, who purchased a 28% from troubled Icelandic investment firm Baugur earlier this month, has said that now is not the right time to buy causing the company's stock price to plummet. He is understood not to have met with the family.

Green could give Moss Bros founding families the red light

November 13, 2008

Sir Phillip Green, the billionaire retail magnate, has reportedly bought the 28.5% stake in UK suit retailer Moss Bros held by Icelandic investment firm Baugur.

Baugar’s position as the company’s largest shareholder became untenable following the collapse of Kaupthing, one of the banks caught up in Iceland’s financial crisis, through which the stake was held.

It is a rapid decline for Baugur who in May attempted a takeover of Moss Bros for the second time. Both attempts were thwarted by the founding Moss and Gee families.

Moss Bros no longer fits for founding family

August 28, 2008

One of the founding families of Moss Bros, the 100-year British suit retailer, has all but sold out of the business following a reshuffle of the company’s board of directors.

One of the founding families of Moss Bros, the 100-year British suit retailer, has all but sold out of the business following a reshuffle of the company's board of directors.

Moss Bros has announced that Rowland Gee is stepping down from the company's board as non-executive director, leaving the Gee family stake at roughly 0.5%, down from 8%. The Moss family currently retains a stake of about 18%.

Johannesson family buys back retail assets as Baugur leaves Iceland

July 4, 2008

As part of Icelandic investment company Baugur’s move to London, the company will sell its retail holding company, Hagar, back to the founding family.

As part of Icelandic investment company Baugur's move to London, the company will sell its retail holding company, Hagar, back to the founding family.

The return of Hagar to the ownership of Jón Ásgeir Johannesson and his family means that the UK now accounts for some 85% of the investment portfolio, with the balance in Scandinavia and the US.

Icelandic investment bid causes rift

February 26, 2008

A takeover bid from an Icelandic investment firm threatens to divide a family-owned clothing company.

A takeover bid from an Icelandic investment firm threatens to divide a family-owned clothing company. Men's clothing firm Moss Bros has received a takeover bid of €0.55 per share from Baugur, the Iceland-based investment group, which values Moss Bros at approximately €53 million.