M&S buys mothballed fulfilment centre from Asos for £67m

ASOS PLC (LSE:ASC) has agreed to sell its Lichfield fulfilment centre to Marks and Spencer Group PLC (LSE:MKS) as the online fashion retailer continues efforts to strengthen its balance sheet and cut costs. The group said the £67.5 million disposal will generate net proceeds of at least £66 million and annual cash savings of about £6 million from lower rent and occupancy costs.