Boohoo to Shift U.S. Operations from Local Center to UK, Announces Write-Down

British online fashion retailer Boohoo has announced that it will shift its U.S. customer fulfillment operations from its Pennsylvania distribution center back to the UK. This change will lead to a write-down on its balance sheet, the company disclosed on Wednesday.

The write-down will reflect the investments and costs tied to the now-redundant U.S. distribution center, along with some exceptional one-time cash expenses.

Boohoo stated it would provide more detailed information on this matter in its upcoming half-year results report.