Hela Apparel Holdings PLC has issued a clarification in response to false claims circulating on social media about its acquisition of Focus Brands Limited and other unrelated allegations.

The company categorically refutes these accusations, stating they are misleading and part of a targeted campaign to harm its reputation.

Hela Apparel clarified that its wholly-owned subsidiary acquired 100% shareholding in Focus Brands Limited on 24 January, from JD Sports Fashion PLC, a leading UK-based retailer.

The total acquisition cost was £ 8 million, and the transaction was financed without any bank borrowings.

Details of the acquisition were disclosed in the company’s audited 2023/24 annual report, including a comprehensive breakdown of the assets and liabilities acquired.

The company has formally requested the publisher of the misleading content to remove the article and associated posts and to issue a public retraction acknowledging the baseless nature of the claims.

Hela Apparel believes this misinformation campaign is a deliberate attempt to undermine its credibility. It assured stakeholders that it is working with legal counsel and authorities to address the matter and safeguard its reputation.