Sale of London office

boohoo group plc

23 December 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR").

23 December 2024

boohoo group plc

("boohoo" or the "Company")

Sale of London office

boohoo group plc (AIM: BOO), a leading online fashion group, announces that it has completed the sale of its London office, located on Great Pulteney Street, Soho.

The property has been sold for £49.5m in cash to Global Holdings UK Limited, an independent property fund. The action taken to dispose of this non-core and non-strategic asset will further strengthen the company's balance sheet.

Part of the proceeds will be used to pay down, in full, the remainder of the term loan, which was due for repayment in August 2025. This will leave the business with a £125m revolving credit facility which is sufficient for its needs going forward.

Enquiries
boohoo group plc
Stephen Morana, Chief Financial Officer	Tel: [phone]
Victoria Huxster, Investor Relations	Tel: [phone]
Zeus - Joint Financial Adviser, Nominated adviser and Joint Broker
Nick Cowles / Dan Bate / James Edis	Tel: [phone]
Benjamin Robertson	Tel: [phone]
HSBC - Joint Financial Adviser and Joint Broker
Anthony Parsons / Alex Thomas / Chloe Ponsonby / James Hopton	Tel: [phone]
Headland - Financial PR Adviser
Susanna Voyle / Will Smith	Tel: [phone]

About boohoo group plc

"Leading the fashion eCommerce market"

Founded in Manchester in 2006, boohoo group is a fashion forward, inclusive and innovative business. The Group's brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7. The diversity of our brands, including the group's 5 core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable us to serve a broad customer base, globally, with a primary focus on the UK and US markets. Since its acquisition in 2021, Debenhams has been transformed from a retailer into a digital marketplace with a capital-light, low-risk operating model and a focus on fashion, beauty as well as home. Boohoo group is concentrated on driving sustainable, profitable growth with technology and automation increasing efficiency across the business.

 

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