Stalker bidding to turn heat on Moss

FASHION entrepreneur Shami Ahmed, who is stalking retail group Moss Bros, hopes to put pressure on its board by meeting institutional shareholders.

Ahmed, boss of Joe Bloggs, has said he would bid at least 40p a share, subject to checking the firm's finances, but the Moss Bros board, headed by chairman Keith Hamill, has refused to open its books and has cast doubt on Ahmed's ability to finance the move.

Ahmed's advisers insist he has cash backing, subject to due diligence, and he is expected to take his case to shareholders in the hope that they will persuade Hamill to provide more information.

Ahmed will not make a hostile bid because family shareholders control about 38% of Moss Bros.