Boohoo eyes America with Nasty Gal reports
Manchester etailer, Boohoo, could be on the verge of acquiring American fashion brand, Nasty Gal.
According to a listing on Companies House, Nasty GAL was incorporated on 21st November, with Boohoo.com UK Ltd and Allan Pollitt listed as its directors. Pollitt, one of the key financial names behind the Manchester firm, is listed as the new business’s company secretary.
Nasty Gal was founded in Los Angeles in 2006 by Sophia Amoruso and then underwent major growth, raising $65m, mostly through venture capital. It inspired a best-selling book, #GirlBoss and a Netflix spin-odd, due to air next year.
However, the move from eBay store to bigger brand proved too much for the company, which filed for Chapter 11 bankruptcy in November.
While a number of suitors are believed to be on the table, it’s reported that Boohoo is the preferred bidder and that appears to be backed up by the filing on Companies House.
Nasty Gal has more than $20m in unsecured claims and nearly $10m in its inventory. This may be seen as a small price to pay if it enables the Manchester firm to make bigger waves in the lucrative US market.
The American firm has 2 high street stores in Los Angeles.