Boohoo Group has bought the brand and intellectual property assets of women’s fast fashion etailer MissPap for an undisclosed sum.
It comes after Drapers exclusively revealed earlier this month that MissPap planned to appoint a liquidator after a resolution to wind up the company was passed by shareholders.
MissPap’s trade and expense creditors are owed more than £1m. Employees are owed £10,000, refunds owed to customers comprise £300,000 and HMRC is owed more than £950,000.
Misspap was launched in Burscough, West Lancashire, in 2014 by founder Ashley Ali.
John Lyttle, CEO of Boohoo Group, said: “MissPap is a brand with great potential, which can leverage the group’s expertise. This acquisition further strengthens our multi-brand platform, representing an exciting opportunity to accelerate our offering to our ever-growing range of customers globally.”