Boohoo Group (DEBS): Disposals and warehouse exits

This situation live

DEBS Boohoo Group

£393m · 25.4p · +119% since the first step

27 Nov 2025 · Daventry exited; Burnley sale in process · +37% until the next step Our Daventry DC has been exited, our freehold Burnley DC is in the process of being sold and our US DC obligations will be exited.

28 Jan 2026 · Non-core sales advancing; PLT removed from sale · −25% until the next step Debenhams is exploring significant licensing opportunities and continues to advance the sale of non-core assets which would materially reduce the net debt in the next 12 months.

17 Feb 2026 · Planned, shareholder soundings, lender talks advanced · −5% until the next step The Company expects to speak to its institutional shareholders over the next few days, after which the Planned Fundraise will be launched.

17 Feb 2026 · Indicative support above £24m at 20p · −5% until the next step The Company will continue speaking to its institutional shareholders over the next few days to gauge further indicative support.

18 Feb 2026 · Fundraise launched at 18p; bookbuild under way · +13% until the next step 194,444,444 New Ordinary Shares will be issued pursuant to the Fundraise at a price of 18 pence per share (the "Issue Price").

19 Feb 2026 · Bookbuild closed, upsized to about £40m · −12% until the next step Application has been made to London Stock Exchange plc for Admission of the New Ordinary Shares.

30 Mar 2026 · Raise done; net debt £90m, under 2x · +24% until the next step This reduction of debt was greatly helped by the fund raise in February 2026 of £40m.

3 Jun 2026 · Deleveraging to below 1x on track · +11% until the next step Similarly, the reduction of net debt to adjusted EBITDA to below 1x in the current year is on track.

12 Jun 2026 · US warehouse subleased; Burnley pending · +0% until the next step The Sublease materially reduces the Group's future cash obligations while securing a long-term occupier for the site, with ID Logistics expected to commence occupation on 1 August 2026 until the end o

16 Jun 2026 · Net debt £93.2m, 1.75x; target below 1x · +3% until the next step FY26 net debt £93.2m (1.75x Adjusted EBITDA); FY27 targeted below 1x Adjusted EBITDA

14 Jul 2026 · Deleveraging reiterated; disposals and licensing floated · +1% until the next step We are committed to reducing it below 1x Adjusted EBITDA in the year ending Feb-27.

10 Sep 2026 · Net debt target tightened to negligible · −8% until the next step The Transaction will result in the Company significantly deleveraging, and we now expect net debt to be negligible at our year-end (Feb '27).

15 Sep 2026 · Further disposal proceeds; net debt target negligible · +7% until the next step further strengthens the balance sheet following the £90m sale of the Group's Sheffield Distribution Centre, announced on 10 September 2026.

17 Sep 2026 · Sheffield and Nasty Gal sales completed · +1% since Together, these transactions materially reduce the Group’s debt and net debt is expected to be negligible at year end.

Disposal of a part (break-up)

Disposals and warehouse exits

Sheffield and Nasty Gal sales completed

FEB28 Next: Net debt negligible at February 2027 year end in 127 days

Every step · 14

27 Nov 2025 Daventry exited; Burnley sale in process – Our Daventry DC has been exited, our freehold Burnley DC is in the process of being sold and our US DC obligations will be exited. ↗
28 Jan 2026 Non-core sales advancing; PLT removed from sale – Debenhams is exploring significant licensing opportunities and continues to advance the sale of non-core assets which would materially reduce the net debt... ↗
17 Feb 2026 Planned, shareholder soundings, lender talks advanced – The Company expects to speak to its institutional shareholders over the next few days, after which the Planned Fundraise will be launched. ↗
17 Feb 2026 Indicative support above £24m at 20p – The Company will continue speaking to its institutional shareholders over the next few days to gauge further indicative support. ↗
18 Feb 2026 Fundraise launched at 18p; bookbuild under way – 194,444,444 New Ordinary Shares will be issued pursuant to the Fundraise at a price of 18 pence per share (the "Issue Price"). ↗
19 Feb 2026 Bookbuild closed, upsized to about £40m – Application has been made to London Stock Exchange plc for Admission of the New Ordinary Shares. ↗
30 Mar 2026 Raise done; net debt £90m, under 2x – This reduction of debt was greatly helped by the fund raise in February 2026 of £40m. ↗
3 Jun 2026 Deleveraging to below 1x on track – Similarly, the reduction of net debt to adjusted EBITDA to below 1x in the current year is on track. ↗
12 Jun 2026 US warehouse subleased; Burnley pending – The Sublease materially reduces the Group's future cash obligations while securing a long-term occupier for the site, with ID Logistics expected to commence... ↗
16 Jun 2026 Net debt £93.2m, 1.75x; target below 1x – FY26 net debt £93.2m (1.75x Adjusted EBITDA); FY27 targeted below 1x Adjusted EBITDA ↗
14 Jul 2026 Deleveraging reiterated; disposals and licensing floated – We are committed to reducing it below 1x Adjusted EBITDA in the year ending Feb-27. ↗
10 Sep 2026 Net debt target tightened to negligible – The Transaction will result in the Company significantly deleveraging, and we now expect net debt to be negligible at our year-end (Feb '27). ↗
15 Sep 2026 Further disposal proceeds; net debt target negligible – further strengthens the balance sheet following the £90m sale of the Group's Sheffield Distribution Centre, announced on 10 September 2026. ↗
17 Sep 2026 Sheffield and Nasty Gal sales completed – Together, these transactions materially reduce the Group’s debt and net debt is expected to be negligible at year end. ↗

What is happening

Boohoo Group: Disposals and warehouse exits – Sheffield and Nasty Gal sales completed. ['Sheffield and Nasty Gal sales completed']

In short: Warehouse consolidation into Sheffield completed by 30 Mar 2026, and the US distribution centre was subleased to ID Logistics on 12 Jun 2026. The £90m Sheffield sale to Primark (announced 10 Sep 2026) and the Nasty Gal sale for $16m (announced 15 Sep 2026) are confirmed completed in the 17 Sep 2026 update. Stocked-product fulfilment moves to a 3PL, and net debt is expected to be negligible at year end. Burnley remains.
Announced: 27 Nov 2025 · Daventry exited; Burnley sale in process
Latest: 17 Sep 2026 · Sheffield and Nasty Gal sales completed
Interest saving: At least c.£10m in FY28 on current facility; potential further cut with new facility
Net debt at 28 Feb 2026: £93.2m, 1.75x Adjusted EBITDA
Net debt 28 Feb 2026: £93.2m, 1.75x Adjusted EBITDA
New proceeds: US$16m cash from Nasty Gal sale, 15 Sep 2026
Earlier proceeds: £90m from Primark for Sheffield DC
Sheffield disposal: £90m automation sale and lease assignment, completed; 3PL cost to fulfil no more expensive than Sheffield
Nasty Gal sale: $16m for brand and IP, completed; announced 15 Sep 2026
Net debt H1: £102m at 31 Aug 2026 (H1 FY26: £111m)

What comes next

Net debt negligible at February 2027 year end (28 Feb 2027).

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