In a move reported by Retail Week Online (June 12), the Gee family have been in negotiations this month over the future of its 5 per cent stake in the menswear retailer.
A trust represented by the boss of the Leeds-based brand and suit supplier Berwin & Berwin has acquired the 4.25 per cent holding, weeks after it is understood to have approached Baugur about snapping up a slice of its 29 per cent shareholding in Moss Bros.
Berwin said he hoped that his “influence will help bring harmony and positivity to Moss Bros and enable it to establish a strong strategy and management team while moving forward in a profitable manner.”
Berwin added: "At the moment, we are just investors. They are the third-biggest suit company in the UK and we are one of the largest suppliers. We will see, while working at arm's length, what we can bring them."
Rowland Gee said: “My brother Nigel and I, following recent events, were presented with an opportunity to sell the majority of our remaining holdings in Moss Bros to a party who can both influence and add value to this sound company.
“Moss Bros Group contains many great attributes, not least a loyal and highly experienced workforce.”
Last week, Retail Week magazine (June 20) revealed that the retailer is without a chairman after Keith Hamill’s planned departure, following the failed£40 million takeover bid by shareholder Baugur.
More to follow.