TMCnet - World's Largest Communications and Technology Community



Asos resumes trading after huge blaze [Newcastle Journal (England)]
[June 24, 2014]

Asos resumes trading after huge blaze [Newcastle Journal (England)]

(Newcastle Journal (England) Via Acquire Media NewsEdge) ONLINE retailer Asos has resumed trading after a major fire "compromised" around Pounds 22 million of stock at its main warehouse.

The fashion website was forced to suspend orders after the blaze in Barnsley on Friday night affected 20% of stock at the site.

The fire is believed to have been started deliberately and is being investigated by South Yorkshire Police. Around 500 workers were evacuated from the five-storey building.

Asos said the clean-up process started on Saturday morning and meant it was able to resume taking orders at 2am yesterday. The company is fully insured for the loss of stock and business interruption, although the disruption meant its shares fell 3%.

Asos said in a stock market statement: "None of the technology, automation or structure of the building has been affected by the fire.

"Our initial estimate is that approximately 20% of the total stock at the site has been compromised by fire damage and the sprinkler systems." At the end of May, Asos held Pounds 159m of stock at cost, of which around 70% is held at Barnsley. The retailer sells fashion and beauty products around the globe and last year made sales of more than Pounds 750m.

(c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy