Duddy, who used to lead Home Retail Group, the group responsible for Argos, Habitat and Homebase is on a shortlist of targets according to reports by Sky News. Duddy took over at Debenhams following Sir Ian Cheshire’s ousting by majority shareholder Mike Ashley. The news comes after Moss Bros warned over low profits, sales, footfall and suit hire demand.
Last week, property group Hammerson, said that Duddy would step down three months early as its senior independent direction following his elevation through the ranks at Debenhams. The next two months will see Duddy attempting to secure the refinancing of the retailer’s borrowings.
Despite a profit warning, Moss Bros defied a brutal retail environment, with like-for-like sales down just 0.1% in the 23 weeks to 5 January.