Boohoo secures warehouse space, creating 500 jobs

Boohoo has secured more warehouse space, which will create up to 500 new jobs.

The warehouse, in Daventry, will come into use in the second quarter of the financial year.

The warehouse is on a four-year lease and will add to existing sites in Burnley, Sheffield and Wellingborough.

“This site will support the group’s expansion and adds capacity in addition to its existing facilities in Burnley, Sheffield and Wellingborough,” said Boohoo.

“In aggregate, these sites will give the group net sales capacity in excess of £4 billion.

“The deal is expected to secure up to 500 jobs and in the future create up to a further 1,000 jobs as capacity increases at the site.”

Boohoo shares are trading -0.52% at 342.90 (1045GMT).