Boohoo

Today’s news in brief-23/12/24

Fashion retailer Quiz plans to delist from the Alternative Investment Market (AIM) and re-register as a private company following weak sales and financial strain. A shareholder vote, requiring a 75% majority, is scheduled for 8 January 2025, with the transition set for 23 January if approved. The company cited regulatory…

Read More »

Boohoo offloads head office for £49.5m

Boohoo has completed the sale of its London office for a total of £49.5m. Located on Great Pulteney Street, Soho, the site was sold to Global Holdings UK Limited, an independent property fund.  Boohoo said the move would help to “further strengthen the company’s balance sheet”. Part of the proceeds will…

Read More »

Today’s news in brief-20/12/24

Retail sales in the UK edged up by 0.2% in November, falling short of analysts’ 0.5% forecast. The slight increase followed a 0.7% decline in October, with food sales rising for the first time in three months, up 0.5%, while non-food revenues rose by 0.2%. However, clothing sales fell sharply…

Read More »

Boohoo bans journalists from boardroom battle with Mike Ashley

Boohoo has reportedly blocked journalists from attending its boardroom showdown with Mike Ashley, following an ongoing battle over the fast-fashion company’s governance.According to The Telegraph, Boohoo told journalists that they will not be able to attend its annual general meeting today (20 December), where shareholders will vote on Frasers’ demands…

Read More »

Today’s news in brief-17/12/24

Shein’s potential London IPO may challenge regulatory norms as the company reportedly seeks a waiver from the UK’s 10% public float requirement. If successful, it would mark a first for London’s stock market. Shein filed confidentially with the FCA in June but faces delays due to regulatory scrutiny, including concerns…

Read More »

Boohoo head office sale halted after investor walks away

Boohoo’s head office sale has been halted due to an Israeli investor walking away from negotiations, according to The Telegraph. The prospective buyer, who was in talks to acquire the retailer’s Soho office for £60m, has pulled out due to concerns raised by a survey. The retailer purchased its six-story…

Read More »

Today’s news in brief-12/12/24

Central Group’s executive chair Tos Chirathivat admitted to overpaying in hindsight for Selfridges and other European luxury department stores as part of a £4bn deal in 2021. Chirathivat told the FT the price felt steep given rising global interest rates but noted the valuation may look more reasonable in a…

Read More »

Debenhams has ‘greater value’ than current group valuation, says Boohoo CEO

Boohoo group CEO Dan Finley has said that Debenhams single-handedly brings “greater value” than the market cap of the rest of the Boohoo brands, reaffirming his confidence in the group and how he thinks the brand is currently undervalued.  In a video posted on the boohooforall website, Finley said: “I…

Read More »

Boohoo calls on shareholders to reject Mike Ashley’s board bid

Boohoo has urged its shareholders to vote against Mike Ashley’s board appointments ahead of its AGM on 20 December. In an update posted this morning, Boohoo revealed that independent proxy adviser Institutional Shareholder Services (ISS) has recommended shareholders vote against Fraser’s bid for board representation which would see Ashley as…

Read More »

Ex-Boohoo CEO left amid stalking concerns

Ex-Boohoo CEO John Lyttle resigned from his post in October amid claims he was being stalked alongside several other Boohoo employees. The former boss is thought to have mentioned the stalking and surveillance concerns as reasons for his departure, according to reports from The Times. It comes as police forces…

Read More »