June 10, 2019 / 6:42 AM / 2 months ago

Asset manager Gatemore Capital discloses stake in Moss Bros

(Reuters) - Gatemore Capital Management disclosed a 9.57% stake in British suit retailer Moss Bros Group on Monday, making the asset manager one of Moss’ largest shareholder.

Sky News reported on Sunday that the asset manager, which often pursues activist campaigns at its holdings, will disclose a stake in Moss on Monday.

Moss Brothers, which offers men’s suits for hire, has struggled with falling footfall on UK’s high-street and costs related to Britain’s planned exit from the European Union.

In March, Moss reported its first annual adjusted pretax loss since 2011.

Gatemore launched an activist campaign at fashion retailer French Connection in 2017, demanding the company explore a sale, replace board members and split the role of the CEO and Chairman.

French Connection eventually put itself up for sale last October.

Reporting by Shariq Khan in Bengaluru; Editing by Saumyadeb Chakrabarty

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