Boohoo bleeds value as UK supply chain scrutiny intensifies

Boohoo

Shares in online fashion retailer Boohoo have lost almost half their market value in little over a week as it grapples allegations about illegal working conditions at a clothing factory.

The company used a statement to the City on Wednesday to confirm an independent review of its UK supply chain, saying it was “shocked and appalled” by claims in The Sunday Times that workers at a site in Leicester were being paid as little as £3.50 an hour – well below the minimum wage.

Read the full article on Sky News.