Jigsaw chief executive Peter Ruis has left the fashion retailer just days before an expected update on the sale of a stake in the business.

Ruis, who has run the company since 2013, resigned with immediate effect, Drapers reported.

He will be succeeded by Jigsaw chairman Charles Atterton, who previously served as joint chief executive alongside the firm’s founder, John Robinson. 

Ruis said the decision had not been taken “lightly”, and that he leaves the brand “set to continue its stellar growth in the future”.

It comes as Jigsaw prepares to provide an update on the sale of a stake in the business later this week.

Carphone Warehouse boss David Ross is among the frontrunners to invest in the business, it emerged last month.

The retailer is understood to have been seeking funding options since October, when it hired KPMG to explore potential opportunities.

In 2016, the business reported profits of £6.2m on sales of £95m.

It operates more than 80 stores, with concessions in Bloomingdale’s in the US and stores in Australia and the Netherlands.