Boohoo has raised just under £198 million via a share placing with current and new investors. The business says it plans to use the proceeds to take advantage of opportunities to acquire struggling brands as the full impact of the Covid-19 lockdown ripples through the fashion sector.
It had, of course, moved to take Karen Millen and Coast, as well as its earlier acquisitions of NastyGal and MissPap. It has been suggested that Boohoo has the failed Oasis and Warehouse brands in its immediate sights and that there will no shortage of other brands of interest hitting the buffers both in the UK and in the USA.
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