Sir Philip Green starts his Christmas shopping

It’s an attractive deal for the Croydon-born entrepreneur: Moss Bros has zero debt and no pension scheme.

Observers believe Sir Philip, who apparently completed the deal in just five hours, could put in a second bid to buy the remaining shares from Baugur – the stricken Icelandic retail investor – or increase his stake to over 50 per cent.

The Moss Bros shares were bought through Warbeck, an investment vehicle controlled by the Green family.

Related articles:Sir Philip Green: the definitive profilePhilip Green: business is "horrible" Retailers vs landlords. It’s war

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