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Online fashion business Boohoo, which has a major distribution operation in Burnley, has bought two renowned British brands out of administration in a deal worth £18.2m.
It has announced it has completed an asset purchase agreement for Karen Millen and Coast. The brands were recently put up for sale by Icelandic bank Kaupthing.
Boohoo has acquired the online business and all associated intellectual property rights from the administrators. The deal has been funded by its existing cash resources.
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