The co-founders of fast-fashion giant Boohoo have bought another £15m worth of shares in a bid to stop the share price from falling any further.
Mahmud Kamani ploughed £10.7m into 5 million shares, while Carol Kane spent £4.3m on Boohoo stock on Thursday, in an attempt to rebuild confidence in the embattled business following the allegations of malpractice in its textile supply chain.
The joint efforts of Kamani and Kane appeared to have succeeded, with Boohoo’s share price rising 12%, having seen a near 50% collapse since allegations of issues in a Leicester supplier’s factory first appeared in The Sunday Times.
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