Scandal-hit retailer Boohoo has slashed its supplier network by more than 400 firms amid an overhaul after allegations over working conditions for factory staff.
Online fashion retailer Boohoo has said is not “aware of any investigation” by US Customs and Border Protection following reports it could face a US import ban over labour abuse allegations.
Around 2,450 staff are being told on Monday that their jobs have been axed after clothes website Boohoo bought Dorothy Perkins, Wallis and Burton for £25.2 million.
Boohoo agrees £25 million online takeover of Dorothy Perkins, Wallis and Burton at expense of thousands of high street jobs
Clothes website Boohoo has tied up a £25.2 million deal to buy troubled Arcadia brands Dorothy Perkins, Wallis and Burton.
Thousands of Topshop store staff were only officially informed that their jobs were likely to go two hours after Asos announced their £295 million takeover of the brand, the PA news agency understands.
Bosses at Boohoo have said they are in exclusive talks to buy some of the remnants of Sir Philip Green’s high street empire, as online fashion giants cap off a week of dominance over their brick-and-mortar rivals.
Global markets drifted lower on Monday amid worries that governments are considering new restrictions to slow the spread of Covid-19.
Two of the UK’s largest online retailers, Boohoo and Asos, have moved to buy brands from collapsed high street giants in deals underlining how the pandemic has accelerated dramatic shifts in the retail sector.
Online fashion retailer Boohoo has bought the Debenhams brand and website for £55 million in a deal that will see the eponymous department store name survive, but the company’s remaining 118 stores close for good.
Flagship Debenhams store will remain closed in ‘massive blow’ to high street as buyers Boohoo move operation online
Debenhams will not reopen its store in Aberdeen following a buy-out by online fashion retailer Boohoo.
Fears have arisen over jobs at the Aberdeen branch of a popular fashion chain after it was announced it would close.