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Primark owner takes GBP284m unsold stock hit

2020-04-21 13:35:00| Daily apparel & textile news and comment - from just-style.com

Primark-owner, Associated British Foods (ABF) has written down the value of its clothing stock by GBP284m (US$349.3m) as the fashion retailer has gone from making sales of GBP650m each month to nothing following the closure of all stores in March amid the Covid-19 pandemic.

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