Boots-owner Walgreens faces losses on bust e-commerce platform T0day

Mar 25, 2022

The owner of Boots is facing millions of pounds of losses on a controversial e-commerce platform that was beset by allegations of corporate espionage and eventually collapsed last week.

Sky News understands that Walgreens Boots Alliance (WBA) is unlikely to recover more than a negligible proportion of the money it invested in T0day Development Partners following its administration.

Ocado bought some of T0day’s assets from Interpath Advisory, the administrator, less than a year after a legal between the two companies was settled.

Sources said that WBA had invested a multimillion pound sum in T0day’s business with a view to utilising its technology across its own online retailing activities.

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Waitrose had also struck a partnership with T0day – which was set up by Jonathan Faiman, one of Ocado’s co-founders – but ended the relationship in 2019.

Last year, an acrimonious legal fight between Ocado and T0day ended with Mr Faiman and others paying significant sums to the London-listed retailer following allegations that they had stolen confidential information from it.

Ocado has not made any public statement about its acquisition of assets from the remnants of T0day but is unlikely to seek to make commercial use of them, according to one insider.

T0day’s collapse comes as WBA also prepares to sell Boots, with Asda and Apollo Global Management regarded as the two leading contenders to buy it.

A WBA spokesman declined to comment on the sum the company had invested in T0day.

Mr Faiman could not be reached for comment.

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