The founder of the Joe Bloggs clothing chain, who failed with an approach for fashion retailer Moss Bros earlier this year, has bought 30 million shares in the Manchester-based company, making him its second largest shareholder.
Mr Ahmed described his investment in the reflective clothing firm, which makes highly-visible work wear and sportswear, as "high-risk" but said he has no plans to take control of the company which posted a first half loss of £1.1 million.