£1.4m loss at Moss Bros as bid talks go on

Menswear retailer Moss Bros today reported a £1.4 million loss for last year and said talks with Iceland's Baugur Group were still on.

Chairman Keith Hamill has opened the books for Baugur despite opposition from the founding family, which believes that the £40 million approach is too low.

Moss Bros scrapped its dividend in light of the takeover talks but says it will pay 1.3p a share if Baugur does not follow up with a firm takeover offer.

Moss Bros warned that the coming months' trading would be challenging.