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The Guardian - UK
The Guardian - UK
Business
Sarah Butler

Boohoo backtracks on plan to pay bosses £1m bonuses

Boohoo Carol Kane John Lyttle Mahmud Kamani
Mahmud Kamani, Carol Kane and John Lyttle.
Boohoo directors Mahmud Kamani and Carol Kane, and the Boohoo chief executive, John Lyttle. Photograph: James Gourley/Getty Images for Boohoo

The online fashion specialist Boohoo has backtracked on a plan to pay three top executives £1m each in bonuses after reporting widening losses and falling into debt.

The move comes after shareholders complained that bonuses were going to be awarded to directors despite the chief executive, John Lyttle, and Boohoo’s co-founders, Mahmud Kamani and Carol Kane, missing bonus targets on sales, profits and cashflow as well as environmental and IT aims.

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