LONDON — Boohoo Group is waving goodbye to its chief executive officer John Lyttle and could sell a number of the high-profile brands it acquired over the past few years to shore up its plummeting share price.

The online fast fashion retailer said Friday that in an effort to “maximize” shareholder value it was placing its three main divisions — Debenhams, Karen Millen and Young Fashion Brands, which comprises Boohoo and other youth-focused brands — under review.

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Some of those businesses were bought out of administration at a time when interest rates were low, and online sales were riding high. But macroeconomic dynamics have changed since the end of the pandemic, and businesses that once looked like a bargain now require more resources to run.

To wit, Boohoo Group has secured a 222 million pound debt refinancing facility, amid a 15 percent decline in revenue to 620 million pounds and a 7 percent drop in gross merchandise value to 802 million pounds in the fiscal first half ended Aug. 31.

The company said the performance of its “youth brands” has remained impacted by the external environment, although the group continues to see considerable GMV growth for Debenhams’ external marketplace, with an additional 5,000 brands signed within the period.

On Friday, following the announcement, the share price fell more than 7 percent to 29.53 pence. In the year to date the group’s share price has dropped nearly 22 percent.

Mahmud Kamani, group executive chairman, said the board is “focused on ensuring it takes the right steps to drive Boohoo Group in the interest of all its stakeholders. The business has evolved over the last few years, and has an offer that is much wider than our original focus on young fashion. The time is now right to consider options with regard to corporate structure, with the aim of maximizing shareholder value.”

Kamani also thanked Lyttle, who had served as CEO for five years. Lyttle said “there is huge potential in this business, and I will continue to work with the board to drive value for all shareholders while a successor is found.”

The group also touted its success in building the various brands, which have become a drag on growth over the past 18 months, for a variety of reasons.

Boohoo’s Gen Z core customer base is shopping differently. They’re more aware of sustainability, making more considered purchases, and focusing less on fashion, and more on the classics.