Crew Clothing boss has been ousted, This is Money learns
Rudderless: Crew Clothing boss ousted and other senior executives quickly leave the fashion brand
- TiM understands that David Butler, the boss of Crew Clothing, has been ousted
- Crew Clothing spokesman says boss resigned by ‘mutual agreement’
- Crew Clothing is owned by Brigadier, controlled by Menoshi ‘Michael’ Shina
Crew Clothing has been left rudderless by the departure of its boss and the sudden departure of senior colleagues, This is Money understands.
Crew Clothing CEO David Butler was ousted earlier this month by the retailer’s owner, Brigadier Acquisition Company, according to sources familiar with the matter.
Since Butler’s ousting, believed to have been directed by the Brigadier General’s boss, Menoshi ‘Michael’ Shina, other senior figures at Crew Clothing have also left the group.
A spokesman for Crew Clothing told This is Money: ‘The directors of Crew Clothing Co Limited announce that David Butler has stepped down as CEO of the company by mutual agreement.’
Problems at the top? This is Money understands that Crew Clothing CEO David Butler has been ousted
Cathy Carrington Birch, the retailer’s head of trade, was reported to have stepped down on Tuesday, while chief technical officer Kerry Beckwith left Crew Clothing on Wednesday.
Brigadier is majority owned by Regiment, which itself is controlled by Shina.
In December 2017, Crew Clothing was acquired for an undisclosed sum. Louise Barns, who joined Crew Clothing as CEO in 2014, left the group after the retailer was sold.
The sale also led to the departure of Stuart Owens, the retailer’s chief financial officer at the time.
Alistair Parker-Swift, the founder and major shareholder of the British clothing company, sold his stake to the new owner.
In April 2020, Brigadier, who also owns Moss Bros and Saltrock, attempted to withdraw from the agreed £22.6 million deal to acquire Moss Bros by seeking a ruling from the City Takeover Panel to appeal on a condition of his offer to scrap the deal. . This attempt failed and the deal went through.
In March this year, Crew Clothing, with more than 100 stores, became the latest fashion retailer to join Marks & Spencer’s ‘Brands at M&S’ platform.
With Crew Clothing looking to boost its omnichannel sales, many of its ranges are now available through the M&S website.
Crew Clothing’s other third party online partnerships include Next, John Lewis and Very.
Earlier this year, Butler said the group planned to open 40 new UK stores by 2025, targeting market towns and coastal destinations.
Speaking in February, Butler said Britain’s high street was “by no means dead,” calling the company “Ralph Lauren of Middle England.”
Prior to becoming CEO of Crew Clothing, Butler worked for Ecco Europe where he was the Managing Director of European Operations for six years until 2016.
In the seven weeks to the end of January, Crew Clothing reported a 15 percent increase in sales, with total store sales increasing 9 percent on a like-for-like basis.