Dec 4, 2024, 5:48 PM
Dec 4, 2024, 5:48 PM

Boohoo bosses face stalking claims during boardroom battle with Frasers Group

Highlights
  • Boohoo executives have been allegedly stalked and surveilled, prompting police investigations in Manchester and Kent.
  • The reported incidents involve serious alarm and distress, including following executives and trespassing.
  • Ongoing police investigations coincide with a contentious boardroom conflict and significant financial losses for Boohoo.
Story

In recent months, several senior executives at Boohoo have reportedly been stalked and surveilled, raising serious concerns about their safety. The incidents are under investigation by law enforcement agencies in both Kent and Manchester, where specific actions such as following executives on public transport and observing them from outside their homes have been documented. These alarming reports come against the backdrop of a growing boardroom conflict between Boohoo and Mike Ashley's Frasers Group, which owns a 28% stake in the fashion retailer. The situation escalated after Boohoo chief executive Dan Finley was appointed following the departure of former boss John Lyttle. Lyttle's resignation paved the way for increased scrutiny from Frasers Group, which has expressed intentions to replace committee leadership at Boohoo, specifically targeting co-founder Mahmud Kamani. Additionally, Boohoo's recent financial struggles, including a significant tripling of half-year losses and a strategic review indicating a potential business restructuring, complicate the circumstances further. These internal conflicts, combined with heightened external surveillance, create a distressing environment for the management team, and investigations into these stalking claims are ongoing with police indication that no arrests have occurred thus far and investigations remain active, signaling a deeply troubling situation for the fast fashion giant.

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