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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.