Jigsaw CEO Peter Ruis has left the premium fashion retailer with immediate effect after 4.5 years in the role.
Drapers reports that Ruis has departed and that Jigsaw chairman, and former co-CEO, Charles Atterton has taken an executive role at the business. Ruis said that leaving the retailer was “not a decision I have taken lightly”.
Ruis joined Jigsaw in July 2013 from John Lewis where he was credited with transforming its fashion offer during his 13-year tenure.
His departure comes after intense speculation prior to Christmas that Jigsaw founder John Robinson had been seeking a buyer for the business.
Reports had suggested that South African groups Foschini (owner of Hobbs, Phase Eight and Whistles) and Truworths (owner of Office) had been vying to buy the business, followed by a suggestion that Carphone Warehouse co-founder David Ross might be looking to buy into the business. However as of yet no deal has come to pass.
Jigsaw operates around 80 stores in the UK and reported sales of £95m in 2016. In a post Christmas 2017 trading update it revealed that sales were up 7% in the lead-up to Christmas with online sales up 34% but it was understood to have been feeling a “cash pinch” towards the end of last year.