The ailing British clothing retailer Boohoo Group Plc took further reform steps shortly before Christmas.
On Monday, the company announced that it had sold its London office to real estate investment trust Global Holdings UK Limited. Boohoo estimated revenue at 49.5 million British pounds (59.7 million euros). These should be used, among other things, to repay a current loan early. Overall, the sale will help to further strengthen the balance sheet, the company said.
At the same time, the company announced that Dan Finley had taken over as CEO and joined the board of directors. Finley, who most recently headed the group’s retailer Debenhams, was announced at the beginning of November as the designated successor to John Lyttle, who announced his resignation as CEO in October. The change in leadership has now been officially completed.