LONDON — hopes to be on firmer financial ground by Memorial Day.
A spokeswoman at the company’s headquarters here said the e-tailer of activewear and designerwear with a technical edge is on target to consummate a deal for additional financing within the next week or two. is raising the additional financing instead of going for a sale to a strategic purchaser, which was rumored last week. The spokeswoman said the sale of Boo to a trade player was an option the company had considered, but it has now been put on the back burner.
She declined to disclose the amount being raised but, as noted, the funds are estimated at roughly $30 million . The money will be used for working capital.
As reported, the new financing would come from some of Boo’s existing investors, who include Goldman Sachs Group; J.P. Morgan; Bain Capital; Omnia; Europ@Web and 21 Investimenti.