KPMG 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

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource