Job risk fears after boohoo takes over brands
Jobs are at risk in the Belfast store of fashion retailer Karen Millen after its online business was bought over by internet giant boohoo, along with label Coast
An initial 62 job losses have been announced as part of the deal, while over 1,000 more posts are in danger across 32 UK stores and 177 concessions. Karen Millen operates a store in Belfast's Victoria Square shopping centre.
The brands were put into administration on Monday before being immediately sold to boohoo, in a process known as a pre-pack.
Administrators at Deloitte said the stores would continue to trade for a short time while they realise the company's assets.
Bosses of the company said adding the brands to its roster, which already includes PrettyLittleThing, Nasty Gal and MissPap, would help it gain customers in the crowded online fashion market. Chief executive John Lyttle said: "The acquisition of the online business of two great and renowned British brands represents another milestone in the group's growth story."