The investment company Baugur has withdrawn its takeover approach for the British clothing firm Moss Bros.
A statement from the Icelandic company said that it was "not in the best interests" of stakeholders to proceed with the offer.
Baugur added that execution risk associated with completing the proposed offer has become "unacceptable".
Gunnar Sigurdsson, chief executive of Baugur Group, said: "We are disappointed by recent developments that have effectively frustrated our proposed offer, but remain supportive of the management team. Baugur is keen to continue to work with the board, management and other major shareholders to identify ways to unlock the potential in the business."
Under city regulations Baugur is now prevented from making another offer for Moss Bros for a period of six months.
Back in February the investment company made a 42p-a-share takeover approach for the menswear firm.
However, last month, Moss Bros announced a pre-tax loss of £1.4 million for 2007.
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