The sale of the asset comes only weeks after Green snapped up the holding formerly owned by Baugur for£6.7 million or 24.95p a share.
A trust represented by Simon Berwin acquired Green's stake for£7.7 million at 28.85p a share. The trust now owns 29.99 per cent of the menswear retailer. The trust has no intention to make an offer for the remainder of the business.
Berwin told Retail Week that it is in the “best interests for Moss Bros to see stability and success”.
Moss Bros has been a battleground for bitter in-fighting between its many shareholders including the founding Moss and Gee families.
It was the subject of a protracted takeover attempt by Baugur earlier this year that failed following stakebuilding by Laura Ashley, via its Bagleys Investments vehicle.
Moss Bros posted an interim pre-tax loss, before one-off items, of£1.6 million in the six months to July 26, versus a loss of£700,000 in the same period the year before.
1 Reader's comment