boohoo signs contract for new warehouse in England creating 500 jobs

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boohoo Group PLC (LON:BOO) announced it has agreed a long-term lease for a new warehouse in Daventry, England.

The deal is expected to secure up to 500 jobs when the plant becomes operational, with up to a further 1,000 jobs as capacity increases at the site.

READ: boohoo cleans up UK supply chain but still ‘miles behind’ competitors, experts say

The site, due to become operational in the second quarter of the retailer’s financial year, will support expansion plans.

Added to the existing facilities in Burnley, Sheffield and Wellingborough, the online seller will reach net sales capacity of over £4bn.

The new warehouse is scalable, with the AIM-listed group expecting to invest over £50mln in the coming years, to increase capacity and operational flexibility.

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