JD Sports buys Cecil Gee stores
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The suit retailer Moss Bros has sold off its chain of Cecil Gee stores after two decades of ownership to JD Sports in a deal with £1.7m. The divestment is part of Moss Bros chief executive Brian Brick's strategy to sell off peripheral parts of the business and "simplify the structure".
Mr Brick called the disposal a "significant milestone" in his strategy to make the company profitable. He said: "When I joined, the business was too complicated; we had to get the core business right."
Yesterday's announcement follows the sale of the Hugo Boss franchise business announced earlier this year.
For the financial year to 29 January, Cecil Gee lost £500,000 but JD is confident it can turn the operation around.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments