// Asos appoints Scott Millar as senior restructuring executive to join its finance department
// The retailer said Millar would become interim director of finance projects
Asos has hired a senior restructuring executive, Scott Millar, to join its finance department as seeks to strengthen its business.
The online fashion retailer said Millar would become interim director of finance projects as it faces pressure from its lenders about the state of its balance sheet, Sky News reported.
Millar was the senior managing director at the professional services firm Ankura.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
He was also the former chief restructuring officer at Interserve, which collapsed into administration in 2019.
Asos saw sales strengthen after acquiring Topshop out of administration in 2021, but sales have since struggled.
The retailer has since replaced its chairman, CEO and finance chief.
In December, Asos said it was in discussions with its lenders about hiring a restructuring expert after the exit of its chief financial officer.
Its lenders, Barclays, HSBC and Lloyds Banking Group, have hired AlixPartners and law firm Clifford Chance to advise on the situation.
The retailer is currently looking for a new chief financial officer following the news that interim CFO Katy Mecklenburgh will leave her post in May 2023.
