March 25, 2020 / 8:15 PM / 5 days ago

Moss Bros to shut stores until further notice

(Reuters) - Suit and formal clothing specialist Moss Bros (MOSB.L) said on Wednesday it would be shutting its stores until further notice as the coronavirus outbreak hit traffic at its stores and orders in its hire business.

The firm has already warned that the pandemic will significantly cause a reduction in its revenue and profit for the year ending Jan. 30, 2021.

Moss Bros, which earlier this month had received a takeover proposal from London-based Brigadier Acquisition, also said that it is looking to cut costs and preserve its cash.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Maju Samuel

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