Jigsaw has secured £5m in fresh funding from Carphone Warehouse co-founder David Ross in a deal that sees him become majority shareholder.
An investment vehicle controlled by Ross has agreed to the multimillion-pound deal for the fashion chain, seven years after his initial investment, Sky News reported.
The new funding will see him replace Jigsaw founder John Robinson as controlling shareholder, sources said.
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The retailer is understood to be in the process of recruiting a new CEO after Hash Ladha left the business last summer after 15 months in the position.
A source told the publication that the injection will provide Jigsaw with a more resilient long-term financial foundation.
The investment will be spent on the brand’s infrastructure, including a new online proposition and an improved fulfilment capability.
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