Illegal wages in unsafe working conditions: oh Boohoo!
The latest negative publicity for fast fashion group Boohoo calls into question its meteoric share price rise. We have questioned the company's environmental and governance credibility time and again, but now social malpractice has been thrown into the mix, it's the triple threat for ESG investors.
Publicity has gone from bad to worse for fashion retailer Boohoo (LON: BOO): In 2017 an investigation by Channel 4 discovered employees were being fired for minor infringements (sometimes as innocent as ‘smiling’).In 2018 MPs criticised the group for fuelling a throwaway clothes culture. In 2019 a sickened shopper discovered a soiled pair of pants in one of her orders.Now in 2020 it has been revealed that one of the company's suppliers pays factory workers £3.50 an hour and has failed to care for those underpaid staff during the coronavirus pandemic. Perhaps this latest revelation will put an end to boohoo's rising success on…