SGIK 3 Investments to acquire Koovs.

SGIK 3 Investments, a corporate entity wholly owned by Waheed Alli, agreed to acquire Koovs, an online fashion retailer. Financial terms were not disclosed. Koovs has been placed into administration following the failure of its largest shareholder, Future Lifestyle Fashions Ltd, to invest $8.34m into the company. Koovs also failed to secure alternative sources of funding. “The offer from SGIK 3 Investments Limited to purchase the underlying business of Koovs in the UK and in India was the best one we received from a creditors’ perspective,” Geoff Rowley, FRP Advisory Partner.