Online fashion giant Boohoo has bought the Karen Millen and Coast brands for £18.2m.
Boohoo will trade the brands online but the future of the stores looks bleak and there have been an immediate 62 redundancies at the acquired businesses.
Earlier today, Deloitte was appointed as administrator to Karen Millen Fashions Ltd, Karen Millen Retail Ltd and “certain other group entities” in order to push through a sale, and said the deal followed a competitive process.
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