Snow+Rock owner and founder Mike Browne plans to step down and is encouraging directors to stage a management buy-out of the sports and outdoorwear retailer.
The directors already own 25 per cent of the company. Browne, who is aiming to retire from the business to go sailing, is confident that his directors can take the retailer successfully into the future.
The business, which celebrated its 20th anniversary last month, has eight UK stores and will open in Portsmouth before Christmas. In the year to August 31, 2001, pre-tax profit more than doubled to£682,000 on turnover of£23.5 million.