Manchester-based specialist fit fashion retailer N Brown Group — whose brands include JD Williams, Simply Be and Jacamo — said its chairman Andrew Higginson intends to step down after five years “to pursue opportunities in private equity.”

N Brown’s senior independent director Ron McMillan is leading the process to identify and appoint a new chairman and Higginson will remain in his position during that search and through an orderly handover period.

N Brown CEO Angela Spindler said: “I would like to thank Andy for his support and advice since my appointment as CEO almost four years ago.

“Andy has led the group during a period of significant transformation and his dedication and insight have made a significant contribution to this process.”

Higginson said: “It has been a privilege to chair the company through a period of transformation to a digital business.

“Angela has established a strong and capable team, the benefits of which are now visible.

“I am stepping down in order to free up capacity to pursue opportunities within private wquity in my portfolio, but I look forward to following the progress of the company in the coming years and wish the business every success.”

In April, N Brown reported that revenue rose 4% to £900.7 million in the 53 weeks to March 4 but statutory profit before tax fell 20.2% to £57.6 million.