Suppliers to the collapsed fast fashion brand Missguided have filed an official complaint to the Insolvency Service and are considering legal action over what campaigners say was “a reckless approach” by the company’s private equity owners.
Missguided called in administrators from advisory firm Teneo on Monday after months of seeking new funds after a boom in sales of clothing online during the pandemic went into reverse when shops reopened. Britain’s fast fashion retailers have come under huge pressure from supply chain costs and delivery delays, while battling new entrants such as China’s Shein.
