Boohoo threatened with £100m lawsuit

Phone with Boohoo logo held in front of a screen showing Boohoo website

Fast-fashion retailer Boohoo is facing a potential £100m lawsuit from investors after modern slavery allegations slashed more than £1bn from its value.

Boohoo is being “targeted” by City lawyers eyeing compensation for shareholders who suffered losses as a result of allegations of forced labour across Boohoo’s factories in 2020, The Telegraph has reported.

The newspaper reported that sovereign wealth funds and local councils are among the group of investors “plotting” the lawsuit.

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