Boohoo backtracks on plan to pay bosses £1m bonuses

Shareholders complained about payouts amid missed bonus targets on sales, profits and IT aims

The online fashion specialist Boohoo has backtracked on a plan to pay three top executives £1m each in bonuses despite reporting widening losses and falling into debt.

The move comes after shareholders complained that bonuses were going to be awarded to directors despite the chief executive John Lyttle, and Boohoo’s co-founders Mahmud Kamani and Carol Kane missing bonus targets on sales, profits and cash flow as well as environmental and IT aims.