Boohoo sells London office, appoints Dan Finley director

On the back of its public spat with majority shareholder Frasers Group, Boohoo has assumed business as usual on Monday, announcing the official appointment of CEO Dan Finley as director, as well as the sale of its London office.

Finley, who was appointed to the helm in November, has formally been made director of the company and a member of the board of directors, a regulatory filing reveals. The move underlines Boohoo’s intention to ensure Finley remains in a leadership role despite backlash from Frasers which, in October, launched a campaign in an effort to install Mike Ashley as CEO.

Boohoo has further announced that it has sold its London office, located on Great Pulteney Street, Soho, for 49.5 million pounds in cash. Independent property fund, Global Holdings UK Limited, was named as the buyer.

In the filing, Boohoo said its decision to sell the site, which was first put up for sale in August to tackle a forthcoming debt repayment due next year, will “further strengthen the company’s balance sheet”.

Part of the proceeds will be used to pay down, in full, the remainder of the term loan in August 2025. Boohoo noted this would leave the business with a 125 million pounds revolving credit facility, which it said was “sufficient for its needs going forward”.