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Prices for Used U.K. Clothing Triple in Five Years, FT Says

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April 21 (Bloomberg) -- Prices paid for used U.K. clothing have tripled to 650 pounds ($1,048) a metric ton from 220 pounds in 2007, driven by increased demand for second-hand British brands in Africa and eastern Europe, the Financial Times reported.

The shift is hurting charities as people forgo donating and sell the items to chain stores such as Cash4Clothes, which pays 5 pounds for full trash bags of cast-off attire, the FT reported.

The items end up in stores such as Virgo in Warsaw, which specializes in U.K. clothing, the FT said. Poland imported 51 million euros ($67.4 million) worth of used clothing last year, with more than half coming from the U.K., according to the report.

To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

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