The boss of suit retailer Moss Bros says that the company will re-focus on the future now that Baugur's GBP40m (US$77.7m) takeover offer for the company has been withdrawn.

The firm has been surrounded by uncertainty after the Icelandic group's bid brought a mixed response from the Moss Bros board before being pulled last month.

However, in a statement to the London Stock Exchange, chief executive Philip Mountford said: "With the distraction of a potential takeover bid now removed, management's attention and energy will be re-focused on driving the business through the short term as well as concentrating on implementing our three year strategic plan, to re-invest in our current portfolio, grow the core Moss chain and develop our Asian supply chain."

There has been recent speculation that Moss Bros' founding Gee family - which holds a 5% stake in the company - is considering selling its shares to an unnamed buyer.

However, a Moss Bros spokesman could not comment on those reports when contacted by just-style.

Meanwhile, fellow retailer Laura Ashley bought another tranche of Moss Bros shares last week, sending its holding in the UK company above 10%.