Could the UK based retailer be planning to buy Nasty Gal’s assets, post bankruptcy? WGSN’s Nigel Taylor reports.
Ever since Nasty Gal, the womenswear retailer announced it was filing for bankruptcy earlier this month, news has been gathering about who in the retail world might be interested in buying the brand’s assets. Now retail rumours are emerging of a real candidate, Boohoo.com.
Reports said Boohoo last week filed a certificate of incorporation of a private limited company for Nasty Gal at Britain’s Companies House.
This legal document seems to suggest that the UK mass-market young fashion retailer is considering buying the assets of the failed US peer. Boohoo’s shares rose Wednesday on the speculation, although neither was available for comment.
Nasty Gal, founded by Sophie Amoruso in 2006, filed for Chapter 11 bankruptcy protection earlier this month with Amoruso resigning as executive chairman at the same time. Nasty Gal was Amoruso’s first business venture, which she started as a bootleg eBay shop selling old vintage clothes and building a retail community through her Myspace channel, before creating the NastyGal.com e-commerce site, and writing a book called #GIRLBOSS about her successful entrepreneurial career. Before the brand announced bankruptcy, it has 10 years of successful trading and cool capsule collections with pop-rock star Courtney Love.
Online retailer Boohoo saw pre-tax profits leap 129% in its most recent half-year on the back of sales up 40%.
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