UK: Stanford Boosts Stake In M&S To £50m
Retail entrepreneur Kevin Stanford has increased his stake in high-street chain Marks & Spencer to £50 million with the purchase of an extra 5.9m shares in the business.
Stanford - who founded upscale fashion chain Karen Millen - claims that the stake-building is an investment, and not preparation to launch a takeover bid.
In total, Stanford - who also holds stakes in clothing companies Moss Bros and Mulberry - now owns 13.9 shares in struggling M&S; almost 1 per cent of the company.
M&S's chief executive Stuart Rose is fighting to retain the head of its successful Per Una division, George Davies, according to reports at the weekend.
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High-street mogul George Davies has quit store chain Marks & Spencer just hours after the chain reported an upturn in trading....
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George Davis, the man Marks & Spencer's successful Per Una brand, has extended the deadline for deciding whether he will stay with the retailer....
Kevin Stanford, who co-established the Karen Millen high-street chain, is joining fashion chain operator Moss Bros as an adviser....
Floundering high-street chain Marks & Spencer's head of womenswear looks likely to quit, according to media reports which quote analysts at Seymour Pierce. ...
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