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BREAKING NEWS

BREAKING NEWS

Gatemore Capital to disclose 10% stake in retailer Moss Bros - Sky News

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(Reuters) – Asset manager Gatemore Capital Management, which often pursues activist campaigns at companies where it has bought shares, is poised to disclose a 10% stake in British suit retailer Moss Bros Group, Sky News reported on Sunday.

The stake is expected to be disclosed to the London Stock Exchange on Monday, the report said.

In March Moss Bros reported its first annual adjusted pretax loss since 2011, hit by weak demand and the costs of Britain’s planned exit from the European Union.

Moss Bros, which dates back to 1851, had reported an adjusted pretax loss of 0.4 million pounds, compared with a 6.7 million pound pretax profit the previous year.

Gatemore and Moss Bros did not respond immediately to a Reuters request for comment on Sunday.

(Reporting by Kanishka Singh in Bengaluru; Editing by David Goodman)

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