Boohoo Group Completes £49.5m Sale of London Office to Strengthen Balance Sheet

2 min read | December 23, 2024 12:13 AM PST | By Team Kalkine Media

Boohoo Group Completes £49.5m Sale of London Office to Strengthen Balance Sheet — Image source: Shutterstock

Strengthening the Balance Sheet

The disposal of this non-core asset is part of Boohoo’s ongoing efforts to streamline its operations and strengthen its financial position. By divesting the Soho property, the company aims to improve its balance sheet and focus on its core business activities.

Using Proceeds for Debt Repayment

A significant portion of the proceeds from the sale will be used to fully pay off the remainder of Boohoo's term loan, which was originally due for repayment in August 2025. This action will reduce the company’s liabilities and leave it with a more manageable debt structure.

A Solid Financial Future

Following the repayment of the loan, Boohoo Group will maintain a £125 million revolving credit facility, which is more than sufficient to meet its financial needs going forward.

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