Jen Atkin’s Editorial Site Mane Addicts Shuts Down, Lays Off Team
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
Shares dropped as much as 17 percent in afternoon trading in London after the Guardian cited auditors’ findings that more than a dozen UK suppliers may be paying substandard wages.
The deal could be priced by mid-September and is likely to raise around £1 billion through the sale of new and existing shares, according to sources familiar with the matter.
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The fast fashion retailer said it supports proposals for a licensing scheme that would ensure all garment factories are meeting legal obligations.
An early investigation revealed the factory in Leicester, which came under fire for paying workers as little as $4.38 an hour, was not a declared supplier and was no longer trading as a garment manufacturer.
A garment workers' rights group accused the fast fashion e-tailer of putting workers at Leicester factories at risk of coronavirus infection.
The Manchester Based Group, which also owns Nasty Gal and prettylittlething, paid £5 million for the struggling British apparel companies.
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After the purchase Boohoo will retain over £350 million, leaving it in a strong position for future acquisitions.
The British sportswear retailer further delayed the publication of its full-year results and announced Chairman Peter Cowgill will forgo 75 percent of his salary.
The online clothing retailer said its performance has recovered in recent weeks with improved year-on-year growth in group sales during April.
The online fast-fashion retailer is successfully tapping into a generation of younger consumers, upgrading its forecasts after a strong end to 2019.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.
Sales rose 4 percent on a reported basis, as consumer pullback from Japanese brands and inventory adjustments dragged down overall earnings.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
The American apparel chain will reopen a womenswear store in the retail neighbourhood since its last location closed in 2018.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.