Nasty Gal closes stores and cuts jobs - report
Nasty Gal is cutting jobs and closing stores following the acquisition of its brand name and other assets by UK-based Boohoo.com.
The failed retailer will close two California stores by the end of this month just as its sale to Boohoo completes, according to reports.
In a filing on Monday with the US Bankruptcy Court in Los Angeles it sought permission to end the leases for its stores on Melrose Avenue and in Santa Monica, The Wall Street Journal reported. It said the lease terminations would save it over $125,000 in rent expenses each month.
The report also said that it last week notified 70 employees at its Shepherdsville, Kentucky, distribution centre of upcoming layoffs in connection with those store closures and the sale of the brand.
Fast-growing Boohoo is paying $20m for the brand as it seeks faster expansion in the key US market.
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