The operator of Smiggle and Peter Alexander is reviewing its corporate structure as it considers a potential breakup of its businesses after announcing the surprise exit of chief executive Richard Murray.

Premier Investments, chaired by billionaire retailer Solomon Lew, confirmed to investors on Monday that it had started a formal review of its structures with a focus on its apparel brands – children’s stationery business Smiggle and pyjama retailer Peter Alexander – to evaluate how each one can best take advantage of future growth opportunities.

Premier Investments chairman Solomon Lew (right) and outgoing Premier Retail CEO Richard Murray. Credit: Eamon Gallagher

The company will weigh up whether it should split the company into two or more separate businesses as part of a demerger.

Murray has resigned from his role and will leave the business on September 15, before Premier’s full-year financial results announcement. Long-serving chief financial officer John Bryce will become interim chief executive.