Fri, 21st Jul 2023 07:19
LONDON, July 21 (Reuters) - THG, the online retail platform, has sold its loss-making THG OnDemand business to a new company led by its management team and funded by Gordon Brothers, it said on Friday.
It said the disposal plus the sale of ProBikeKit to Frasers Group raised about 4 million pounds ($5.2 million) and eliminated losses of 14.6 million in full year 2022 from the business. ($1 = 0.7760 pounds) (Reporting by James Davey; Editing by Andrew Heavens)
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Thg (THG)
Frasers Group (FRAS)