boohoo investors in tears after PwC news

The price of shares in AIM-listed online fashion retailer boohoo (LON:BOO) sank by 16.29% to 264.20p (as of 13:45 BST) after reports that PricewaterhouseCoopers would be stepping down as the firm’s auditor. The FT reported that the PwC was concerned about governance at boohoo.

The company said that PwC was still the auditor at this time but they had begun a tender process for a new provider.