Asos brings in Restructuring Exec to help with turnaround
ASOS, the online fashion retailer, has appointed Scott Millar, a senior restructuring executive amid pressure from its lenders about the state of its balance sheet.
According to Sky News, Scott Millar, a senior managing director at professional services firm Ankura, has been appointed to join the company’s finance department.
Asos saw sales strengthen after acquiring Topshop, Topman, Miss Selfridge, and HIIT for £265 million in 2021, the retailer has since struggled to adapt to the post-pandemic world. Asos have been impacted by the increase in customer clothes returns and ongoing delivery disruptions.
The retailer has in the last 12 months also replaced its chairman, chief operating officer and chief finance officer.
Asos have been approached for comment by The Retail Bulletin.
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