Mike Ashley's retail empire has snapped up troubled fast fashion brand Missguided in a rescue deal.
The deal comes after Missguided collapsed into administration on Monday after suppliers accused the business of millions of pounds worth of outstanding payments.
Frasers Group, which also owns a number of brands including Sports Direct, Flannels, Evans Cycles and House of Fraser, confirmed in a stock market announcement that it has bought the intellectual property of the retailer and sister brand Mennace for around £20m.
