Boohoo Group, which owns PrettyLittleThing, Nasty Gal and MissPap, is looking to add struggling high street fashion retailer Karen Millen and sister brand Coast to its stable through an insolvency process called pre-pack administration.

Following the publication of the story overnight by Sky News, Boohoo issued an update to the London Stock Exchange this morning, confirming a bid to ”acquire the online business of renowned British brands Karen Millen and Coast, together with all associated intellectual property rights”.

In the update, Boohoo described Karen Millen’s online business as a “highly complementary addition” to its existing ecommerce offering.