Baugur shareholder Don McCarthy has stepped down from his role as non-executive director of Moss Bros.

McCarthy, who is also chairman of department store retailer House of Fraser and jewellery group Aurum, joined the board of the beleaguered menswear retailer in May 2007 when Baugur held a 28.5 per cent stake in the business.

His departure follows the collapse of a£40 million takeover bid for Moss Bros by Icelandic investor Baugur earlier this year.

In a stock exchange announcement today Moss Bros said: “The board expresses their gratitude to him for his help and support to the company.”

Earlier this month, Moss Bros issued a profit warning after like-for-likes slumped 3.6 per cent in the 44 weeks to the end of November.

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