Monday, January 9, 2017

UK Company Boohoo To Acquire Nasty Gal For $20M

Los Angeles-based fashion brand and e-commerce provider Nasty Gal is being acquired by UK fashion brand Boohoo.com plc, Boohoo said it a financial filing today, inn a deal worth $20M. According to Boohoo, it has entered into an asset purchase agreement as part of Nasty Gal's bankruptcy sale, which includes "certain intellectual property assets and customer databases" from Nasty Gal. It's unclear if that proposal includes Nasty Gal's current e-commerce business. Nasty Gal filed for bankruptcy in November, after failing to find additional funding for the once highflying e-commerce company.

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