Sale of a distribution centre used by Sir Philip Green’s Arcadia Group has been agreed, and the new landlord has leased it to Boohoo, the Evening Standard reported.
The joint administrators to the Arcadia Group and various subsidiaries agreed the sale of the Daventry warehouse to property firm Prologis.
The company noted: “In aggregate, these sites will give the group net sales capacity in excess of £4 billion.”
Boohoo added that the deal is expected to secure up to 500 jobs and in the future create up to a further 1,000 jobs as capacity increases at the site.
