Fashion Retailer Crew Clothing Buys Moss Bros for £22.6 Million
- Crew Clothing acquires Moss Bros in a £22.6m deal
- Moss Bros shareholders to receive 22 pence per share
- Acquisition expected to complete in Q2 2020
- Brigadier Acquisition Company (Bidco) controlled by Menoshi Shina, owner of Crew Clothing
- Moss Bros reports 3% decrease in total sales for the 24-week period ended January 11, 2020
- Hire sales down 17.7% on a like-for-like basis
- Total retail sales down 1.6% from last year
- Online sales up to 17% of group revenue from 16.6% last year
Fashion retailer Crew Clothing is acquiring Moss Bros in a £22.6 million deal to take the company private. Each Moss Bros shareholder will receive 22 pence in cash per share, and the acquisition is expected to complete in Q2 2020. Menoshi Shina, director of Crew Clothing’s controlling entity Brigadier Acquisition Company (Bidco), expressed admiration for Moss Bros’ heritage and management team and plans to improve its financial performance. Moss Bros reported a 3% decrease in total sales for the 24-week period ended January 11, 2020, with hire sales down 17.7% on a like-for-like basis. Total retail sales were down 1.6% from last year, while online sales increased to 17% of group revenue from 16.6% last year.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the acquisition of Moss Bros by Crew Clothing, including details on the terms of the deal and the reasons behind it. It also includes data on Moss Bros’ recent sales performance.
Noise Level: 3
Noise Justification: The article provides relevant information about a business acquisition and includes some financial data on Moss Bros’ performance. It also quotes the director of the acquiring company, offering insight into their plans for the future of the acquired company. However, it could benefit from more analysis or context on the broader implications of this deal in the fashion industry or retail sector.
Financial Relevance: Yes
Financial Markets Impacted: Moss Bros and Crew Clothing shares
Financial Rating Justification: The article discusses a £22.6m acquisition deal between fashion retailers Moss Bros and Crew Clothing, which will impact the shares of both companies and potentially affect their financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.
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