2nd Mar 2021 14:25
boohoo Group PLC - AIM-listed online-only fashion retailer - Says it has not received any correspondence about nor is it aware of any investigation by US Customs & Border Protection. Says it is confident in the actions it is taking to ensure that all of its products meet the Customs & Border Protection criteria on preventing the product of forced labour entering the US or any of its markets. Notes it continues to fulfil orders to customers in the US across all of its brands and will "work with any competent authority to provide assurance that products from its supply chain meet the required standard."
Adds over the past eight months, it has been working closely with UK enforcement bodies and if it were to discover any suggestion of modern day slavery, it would immediately disclose this to the relevant authorities. This is in response to a Sky News report citing Duncan Jepson, runner of campaign group against modern-day slavery Liberty Shared, who claims boohoo is not doing enough to stop forced labour in its Leicester factories, which make many of its clothes.
https://news.sky.com/story/boohoo-facing-possible-us-import-ban-after-allegations-over-use-of-slave-labour-12232343
Current stock price: 333.60 pence, down 3.2% on Tuesday
Year-to-date change: down 3.1%
By Zoe Wickens; [email protected]
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