In case you haven’t noticed, online women’s clothing brand Missguided’s website has just… disappeared.
The sites’ servers are down and angry customers have taken to the internet to beg the company for updates on their orders.
Well, it turns out Missguided has fallen into the dreaded clutches of administration after it failed to secure a rescue bid that would have saved it from the brink of collapse.
Boohoo, Asos and JD were all looking into buying the company but none of them could reach a deal. So, until it finds a buyer, Missguided has had to call in administrators from Teneo.
The UK company still plans to trade until it finds a new buyer.
According to The Guardian, Missguided has made 80 staff redundant and owes suppliers millions of dollars.
Some of Missguided’s suppliers said they haven’t been paid for months. Others said they were asked for a 30 per cent discount on orders already agreed on, which put them in a pretty precarious position.
Well, Missguided has dissolved with 84 immediate redundancies. Guess that's what happens if you don't pay your suppliers. And it won't be the well-off leaders that will suffer, it will be the factory staff. Factories will close overnight because they can't pay anyone.
