Shares in City Chic Collective, the old Specialty Fashion Group, surged 39.5 per cent to a nine-year high on Thursday off the back of another positive set of results.
It's a dramatic turnaround since then-CEO and co-founder Gary Perlstein was forced out after 14 years in late 2017. His demise came after the board found out he'd been working on a management buyout, which they felt compromised his position. At the time, he held 17.8 million shares, or a fifth of the company, then worth $3.6 million.
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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
