Boohoo news and archive

Frasers to put forward new candidate for Boohoo representation

In the aftermath of Boohoo’s general meeting on December 20, when proposed candidates were declined a seat on the retailer’s board, Frasers Group has now released a statement noting the decision, yet reaffirming that it would continue pursuing representation. In a regulatory filing, the Sports Direct owner said it “respects the view of the...

Business

Boohoo sells London office, appoints Dan Finley director

On the back of its public spat with majority shareholder Frasers Group, Boohoo has assumed business as usual on Monday, announcing the official appointment of CEO Dan Finley as director, as well as the sale of its London office. Finley, who was appointed to the helm in November, has formally been made director of the company and a member of the...

BusinessFeatured

Tracing the Boohoo, Frasers debacle: A look at the ‘war of words’ between fast fashion’s biggest players

On Friday, December 20, the boardroom battle between the UK’s biggest fast fashion players, Boohoo Group and Frasers Group, came to a head. Boohoo shareholders agreed that Frasers would not, at this time, get board representation. The result came after what essentially developed into a public spat between the two groups, unfolding in...

BusinessFeatured

Boohoo shareholders deny Frasers’ board pursuit: Is the end in sight for the boardroom battle?

Shareholders of Boohoo Group have voted against the appointment of Frasers Group founder Mike Ashley and its proposed director, Mike Lennon, to the fast fashion giant’s board of directors. The decision was made during a general meeting requisitioned by Frasers, which had carried out a campaign to gain representation amid declining sales at...

People

Debenhams promotes Patrick Duggan to creative director

Boohoo-owned Debenhams has promoted its head of creative to the role of creative director. Patrick Duggans takes on the leading role after being with Boohoo for four and half years, having initially joined in July 2020 as creative manager for Coast and Karen Millen. Duggans went on to become head of creative at Debenhams in October 2021, a role...

Business

Boohoo stands firm in new letter to Frasers Group

In what is yet another response to another open letter issued by Frasers Group, Boohoo is remaining firm on its stance that its majority shareholder should not have its resolutions approved in the company’s forthcoming general meeting. In this latest filing, Boohoo specifically addresses Frasers’ most recent letter to the retailer’s...

Business

Frasers states Boohoo ‘grossly exaggerated’ conflicts as retailer cuts jobs

The war of words continues between Frasers Group and Boohoo, which are currently embroiled in a public dispute over boardroom control amid falling sales at the latter. Just hours after Boohoo announced that a proxy advisor recommended for shareholders to vote against Frasers’ proposals in the group’s upcoming general meeting, Frasers has issued...

Business

Boohoo gets further proxy backing in boardroom battle

Building on prior support from the Institutional Shareholder Services (ISS), Boohoo has now received backing from an independent proxy advisor in regards to its upcoming General Meeting, in which an anticipated boardroom battle is expected to ensue. Glass Lewis has offered its recommendation that Boohoo shareholders are to vote against...

BusinessFeatured

What is going on at Boohoo? Espionage claims arise as boardroom battle continues

The past few months have been turbulent for Boohoo, to say the least. Yet, last week, things seemed to come to a head when claims of espionage arose at the fast fashion giant. According to a report by The Times, three current and former executives of Boohoo are believed to be the victims of stalking and surveillance. The alleged espionage is...

Business

Boohoo fundraising receives lender backing

Boohoo has officially received lender consent in regards to its fundraising, which has been set out to “unlock and maximise shareholder value”, as stated by chairman, Tim Morris. The fast fashion giant has initiated plans for a Placing & Subscription and Retail Offer through which it is aiming to raise up to 39.3 million pounds. The proceeds of...

Business

Frasers calls for removal of Boohoo co-founder, reaffirms Ashley bid

Frasers Group has doubled down on its criticism of Boohoo Group, now calling on the company’s shareholders to vote out its co-founder and chairman, Mahmud Kamani. In an open letter, Frasers presented Boohoo shareholders with a choice: “win with [Frasers owner, Mike] Ashley or lose with Mr. Kamani”, stating that the latter’s delivery of results,...

People

Boohoo appoints Tim Morris as independent chair

Boohoo Group has announced the appointment of Tim Morris as the company’s independent chair with immediate effect. The company said in a statement that the appointment follows a series of decisive steps taken by the board since announcing its business review, including the completion of the refinancing, the appointment of Dan Finley as CEO and...