There are fears that the retail slowdown may hit UK growth
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Menswear retailer and hire company Moss Bros is the latest UK target of Icelandic investment group Baugur.
Moss Bros said it had given Baugur, which already has a 29% stake in the retailer, access to its books after a 42p-a-share takeover approach.
Baugur already owns a string of UK retailers such as Karen Millen, Oasis and House of Fraser.
The takeover approach came as Moss Bros warned that profits in 2008 were likely to miss expectations.
Moss Bros shares jumped on the takeover news, closing 5.03% higher at 41.75p.
Like-for-like sales were little changed in 2007 from 2006 and total sales fell 3.2% as a result of store closures, Moss Bros said.
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