John Lovering, the chairman of Mitchells & Butlers (M&B), is reportedly in talks to take a multi-million stake in Go Outdoors, the out-of-town camping retailer. The former Debenhams chairman is understood to have made the move after being appointed as the group’s new part time chairman. He takes over from founder and owner Paul Caplan, who becomes president. Go Outdoors, which is backed by YFM, the private equity firm, has 25 UK sites and generates £75m worth of sales. There are plans to grow the business to 100 sites.