Sir Philip Green has bought Baugur’s 28 per cent stake in struggling menswear chain Moss Bros.

The purchase is expected to be a precursor to a a full acquisition of the menswear chain, Retail Week has learned.

Green bought the stake at 24.95 pence per share.

It is understood that Green believes the high end menswear sector shows promise and that it operates excellent brands such as Hugo Boss and Canali.

The Arcadia and Bhs boss remains interested in buying up Baugur’s debt after the collapse of the Icelandic economy in recent weeks.

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