An iconic fashion brand has shut down its website after being sold by Debenhams in a deal worth around £12 million (US$16 million).
Nasty Gal, founded by American entrepreneur Sophia Amoruso in 2006, sold clothing, accessories and footwear.
Boohoo, part of the Debenhams group, bought the fashion brand nearly 10 years ago for around £14.8 million (US$20 million).
Now, the group, which also owns Pretty Little Thing, has completed a sale for Nasty Gal to US company WSG Brands.
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A post shared by Nasty Gal (@nastygal)
A post shared by Nasty Gal (@nastygal)
The new Nasty Gal owner describes itself as a business that acquires and manages “culturally relevant brands” with growth potential.
It currently owns the US fashion label Von Dutch.
Debenhams described the sale as part of efforts to refocus on core assets and improve its financial position.
Debenhams chief executive, Dan Frinley, said: “The group’s turnaround continues at pace.
“The Nasty Gal sale aligns with our strategy and further strengthens the balance sheet.”
Nasty Gal website shut down
The Nasty Gal website has now been shut down, following the brand’s sale to a new owner.
The closure means customers can no longer buy products from the fashion brand online.
However, the website has teased that “something new is coming”.
It adds: “Watch this space.
“We’re working on the next chapter.
“Follow us for the first look — you’ll hear it here first.”
Customers can still make returns via a portal on the Nasty Gal website.
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The sale of Nasty Gal comes amid wider changes at Debenhams, which recently sold its Sheffield warehouse to Primark for £90 million.
The retailer is working to return to profitability and recorded a reduced pre-tax loss of £108 million in its most recent financial year.
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