Online fashion retailer Asos has begun trading again after a fire ripped through its huge distribution centre in a suspected arson attack on Friday night.
Boss Nick Robertson revealed £22 million worth of clothes were destroyed in a fire that wiped out around one in five garments held in its warehouse, but insisted "everyone is relieved because it could have been a lot worse".
Investors reacted calmly to the news with shares remaining flat at 2728p in early London trading as the company confirmed it was fully insured for the loss and the business was almost back to normal.
Friday's fire comes after a warning this month knocked £1.5 billion off its value and in March it admitted warehouse upgrades and breaking into China would cost more than first thought.
The website was shut down for two days, but was up and running today. None of the technology, automation or structure of the building in Barnsley, South Yorkshire, was damaged when the fire started on a second-floor mezzanine, according to Asos, which had £159 million worth of stock before the fire, with £111 million in Barnsley.
A criminal investigation has been launched. No arrests have been made so far..Reuse content