A new finance director looks set to be on the horizon for textiles group, William Baird, who lost a multi-million legal battle against Marks & Spencer earlier this week.

A spokesman for William Baird, who axed 4,000 jobs last year after losing the M&S contract, said an interim appointment looked likely.

William Baird confirmed two weeks ago that group finance director, Brendan Hynes, was leaving the company.

He resigned from the Board on 31 March and relinquished his responsibilities as group finance director around mid-February to pursue other business opportunities.

The Court of Appeal this week upheld the findings of the High Court last year that William Baird's claim should not proceed to trial.

William Baird had claimed for substantial losses and damages, claiming that M&S had failed to give reasonable notice in terminating a 30-year supply relationship.

William Baird is now considering an appeal to the House of Lords.

By Deborah Bowyer