Tuesday 24th Oct 2017 - Logistics Manager

Boohoo raises £50m for huge automated warehouse

Boohoo.com has raised £50 million through the placing of new ordinary shares to fund a new, 600,000 sq ft automated “super-site”.

dressesThe online fashion retailer said that the new site will provide the business with more than £2 billion of net sales capacity, in addition to an estimated £1 billion worth of net sales being generated by the extended Burnley warehouse.

According to Boohoo, the new site will cost £150 million in total over three years.