Thompson sells Viyella

Within days after Richard Thompson sold Jeager to entrepreneur Harold Tillman, he has now also offloaded the Viyella retail chain.

Thompson, the former Queens Park Rangers chairman, bought both chains just two months ago from the Coats textiles group for a nominal sum.

The new owner of the Viyella chain is secretive Birmingham venture capitalist Harris Watson who bought the stores for an undisclosed figure.

It is thought that Thompson has made at least £1 million from 'flipping' the two struggling businesses.