Boohoo Will Complete The Acquisition Of Nasty Gal Inc. By The End Of This Month.

According to the world clothing shoes and hats net, Britain Fast fashion Online retailers Boohoo .com PLC (BOO.L) announced today that it is expected to complete the acquisition of Nasty Gal Inc. in the US bankruptcy industry by the end of this month.

Boohoo.com PLC at the end of December indicated that it offered a database of some intellectual property customers who purchased Nasty Gal Inc. at a price of 20 million US dollars and 16 million 100 thousand pounds, but did not cover the latter's operating costs, such as the rental expenses of two physical stores, in addition, retro costumes and third parties. brand Sales are not within the scope of the transaction.

Nasty Gal Inc. has revealed in legal documents that more than 200 individuals or businesses have expressed interest in participating in the bankruptcy auction. Urban Outfitters Inc. (NASDAQ:URBN) and fashion e-commerce Revolve are also being sold, but in the end, there is no "acceptable and quality" bid other than Boohoo.com PLC, so bankruptcy auctions need not be carried out.

Boohoo.com PLC pointed out that the existing cash resources of the meeting and new bank loans provided funds for the acquisition of Nasty Gal Inc., and the delivery is expected to be completed in February 28th when the bankruptcy court of the United States approved the acquisition on or after 8 Japan on Wednesday, February.

Nasty Gal Inc. chief reorganization officer Joe Scirocco gave the company a valuation of only $25 million, and its peak value reached $200 million. As early as 2013, Urban Outfitters Inc. had been interested in acquiring it.

In the fiscal year ending January 2016, NastyGalInc. recorded an annual sales of US $77 million 100 thousand, down 9% from the same period last year, and EBITDA losses doubled to US $15 million 400 thousand from 6 million 300 thousand US dollars in the previous year, with a post tax loss of more than US $21 million. In fact, the Nasty Gal Inc., formerly known as eBay online store, was established after four years. After three years of sales in 2010-2012 years and three years, it went downhill again after the geometric grade rise in 2012. According to the bankruptcy documents, in September 2015, the company hired Peter J.Soloman Co. to find buyers, but the continuous deterioration of business led to no one willing to accept the offer. The company finally filed for bankruptcy in the US in November 7, 2016.

Nasty Gal Inc. founder Sophia Amoruso owns 55% of the company. In 2012, she sold the minority interest of Nasty Gal Inc. to the private equity fund Index Net-a-Porter, which had invested in Net-a-Porter, Esty Inc. (NASDAQ:ETSY) and ASOSPLC (ASC.L) in 9 million dollars. After seeing the company's revenue rise, the company invested $40 million in additional investment. In early 2013, Sophia Amoruso was also planning to sell to apparel retailer Urban Outfitters Inc. (NASDAQ:URBN). Nasty GalInc.'s latest round of financing has been a year and a half ago. In March 2015, Apple Inc. (NASDAQ:APPL), Apple Corp's former Retail Director and J.C.Penney Co.Inc. (NYSE:JCP) Penny department store failed to get a $16 million round of financing before the CEO Ron Johnson, which has only 65 million dollars in total financing for 10 years.

Two weeks after the explosion of Boohoo.com PLC after being bursting into Nasty Gal Inc., a new company called Nasty GalLtd. has been registered in the UK, exposing its ambition to merge Nasty Gal Inc.. In mid December, the electricity supplier also spent 3 million 300 thousand pounds to acquire the 21 Three Clothing 66% stake of Pretty Little Thing, a small British fashion supplier. Pretty Little Thing is founded by Boohoo.com PLC co founder and joint CEO Mahmud Abdullah Kamani's two sons Umar Kamani and Kamani.

The acquisition of Nasty Gal Inc. will help Boohoo.com PLC further expand the market that the United States has the most potential for the current electricity supplier. According to the data, in the three quarter by the end of December 2016, the United States of Boohoo.com PLC showed the fastest growth in the global market, the rate of fixed exchange rate grew as high as 188% (fixed exchange rate), while Britain, Europe and ROW also increased 31%, 54% and 57% respectively; on the other hand, the international market contributed 43% to the income of Boohoo.com PLC.

Another joint CEO Carol Kane of Mahmud Kamani and Boohoo.com PLC said in its previous statement that the successful purchase of Nasty Gal Inc. will add a mature global brand to the Boohoo family, and it is also the ideal next step to attract young international customers.

Boohoo.com PLC (BOO.L) fell 1.25% to 138.75 pence in the afternoon of February 6th, and jumped more than 200% in 2016. Its share with the holiday season was higher in January 2017, and Boohoo.com PLC (BOO.L) has risen 3.2% this year to 2016.

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