Brigadier Acquisition Company, the owner of Crew Clothing is looking to pull its £22.6 million deal to take menswear chain Moss Bros private just over a month after agreeing the takeover.
Moss Bros said it believes its suitor does not have grounds under City takeover rules to lapse the offer and pledged to ‘take all necessary action to make its case’
Moss Bros chairman Colin Porter admitted at the time the deal was announced that ‘the board is also aware of the risks attached to executing this strategy in the current retail operating environment and as a publicly-listed company’
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