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.