Moss Bros has incurred losses of £1.2m from the sale of 26 stores.
The retailer is spending £1m converting Savoy Tailors Guild, Suit Company and Blazer outlets to a new brand, Code. The restructuring is part of a move away from formal wear in men’s fashion.
Earlier this year the company reported its first full year pretax loss for 25 years. Now the company is warning the balance sheet will be even worse due to a fall in central London trading, the “international security position” and the general economic climate.
Financial Times 21/11/2001 page 27
The Daily Telegraph 21/11/2001 page 34
The Guardian 21/11/2001 page 25
