PracticePeople In PracticeKPMG completes sale of boo.com

KPMG completes sale of boo.com

Liquidators at KPMG have sold the remaining elements of collapsed internet retailer boo.com to an American clothing website.

New York-based Fashionmall.com has bought the high-profile domain name and brand for an undisclosed sum. Earlier this week e-commerce solutions provider Bright Station bought boo’s computer systems architecture for an estimated £250,000.

The sale, however, has been derided by some industry experts as little more that a PR stunt for Bright Station given that similar technology is now available to buy ‘off-the-shelf’.

KPMG appointed liquidators for boo.com two weeks ago and claimed that they would try and sell the company in days and not weeks.

Speaking about the sale, business recovery partner at KPMG Mike McLoughlin, said: ‘This sale followed a period of exhaustive negotiation and the sale has been far from straightforward.’

boo.com was forced into liquidation when it failed to raise funds after spending most of its initial $135m investment.

KPMG finds buyers for boo.com

KPMG gives Boo.com buyers 24 hours to raise £1m

Postboo.com – website of boo.com team

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