ASOS to sell Lichfield centre to Marks and Spencer for $90m
ASOS will sell its Lichfield centre to Marks and Spencer for 66 million pounds. The move aims to cut costs and address excess capacity to simplify operations.
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ASOS PLC will sell its Lichfield fulfilment centre to MARKS & SPENCER GROUP PLC for £66 million ($89.7 million). The deal addresses excess capacity as the United Kingdom retailer trims non-core assets. The sale will generate a one-off £85 million pre-tax profit and £6 million in annual cash cost savings.
ASOS is refocusing on its primary hubs in Barnsley and Berlin, Germany, which support future growth. The company identified the Atlanta facility in the United States as its only remaining non-core asset.
