Boohoo head office sale halted after investor walks away
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
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 office building at 10 Great Pulteney Street for £72m just three years ago to accommodate its rapidly growing portfolio of brands.
The building was put on the market in August in a bid to meet a £47m debt repayment due next year.
The news comes as the retailer’s shareholders are gearing up to vote on 20 December on the ongoing clash between the group and Frasers, as Mike Ashley attempts to gain a seat on the Boohoo board.
A spokesperson for Boohoo told The Telegraph: “We are in active negotiations with regard to the sale of our London office.”
Boohoo has been contacted for further comment.
