FASHION RETAIL NEWS UK
Boohoo moves closer to acquiring Nasty Gal
9 January, 2017 | by Retail Bulletin
Online fashion retailer Boohoo.com has given an update on its plans to acquire US retailer Nasty Gal.
In a statement the company said the US Bankruptcy Court has now approved the process for the sale of the Nasty Gal assets.
Nasty Gal filed for Chapter 11 Bankruptcy Code protection in the US Bankruptcy Court on 9 November.
As previously announced, the proposed transaction will be governed by a court approved bidding process. The closing date for bids will be 2 February.
If Boohoo is successful in acquiring Nasty Gal, the proposed transaction will be subject to final approval by the US courts on or around 8 February.
Boohoo said the acquisition will help to accelerate its international growth.
