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EDINBURGH - Fund management group Baillie Gifford has criticised the sourcing practices of embattled fast fashion brand Boohoo but stopped short of selling off its holdings in the company.

Instead, the company, which runs the £15 billion (US$20bn) Scottish Mortgage trust, pledged to use its influence to improve Boohoo's CSR and sustainability credentials.

Boohoo has been under increasing pressure this year after it emerged that workers at some of its Leicester suppliers were paid less than half of the minimum wage and that factory conditions had contributed to a COVID-19 spike in the city.

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