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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Boohoo boss to step down as review launched that could spark breakup

Boohoo John Lyttle Debenhams Karen Millen Boohoo Group Shein
A woman looks at the Boohoo website on a laptop
Boohoo has agreed a new £222m debt facility with its bankers. Photograph: Anthony Harvey/Rex/Shutterstock

Boohoo’s chief executive is stepping down as the online fashion retailer launches a strategic review of its brands, which include Debenhams, Karen Millen and PrettyLittleThing, that could result in a breakup of the company.

Shares in Boohoo fell 7% on Friday as investors reacted to news of the surprise departure of John Lyttle, who joined from Primark in 2019 and has agreed to remain in post until a successor is found.

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