Skip navigation

Gloucestershire Business News

Boohoo has new major shareholder, Asos investor

T. Rowe Price, the American investment giant has bought a ten per cent stake in Boohoo, the UK based online fashion retailer. This will make the company one of the largest stakeholders in the fashion giant.

The firm already owns a share of 11 percent of ASOS, a British rival to Boohoo. ASOS has acquired Topshop, Topman and Miss Selfridge from failed retail group owner Sir Phillip Green.

The purchase of Boohoo is a vote of confidence after a rocky few years for the company. It was accused of slave labour in 2020 in its Leicestershire factories. It has been found that some workers in the supply chain are still being paid as little as £3.50, far below the National Living Wage.

Last month, Boohoo announced 5,000 more jobs in the next five years, opening new warehouses to meet increasing demand.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 24 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 24

The ongoing coronavirus situation is constantly changing with announcements being made about businesses and services.

Gloucester Brewery launches new warehouse venue Image

Gloucester Brewery launches new warehouse venue

The atmosphere was buzzing as Gloucester Brewery held a spectacular launch party for its new concept bar - Warehouse 4.

Is our GFirst LEP at risk? Image

Is our GFirst LEP at risk?

The strength of the voice of business in Gloucestershire is something which we should be proud of in this county.

Shortage of bin lorries as drivers get better offers Image

Shortage of bin lorries as drivers get better offers

Waste collections in Gloucester are being hit by a shortage of lorry drivers as council employees seek more lucrative employment elsewhere.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.