Administrators for collapsed fast fashion retailer Missguided have told shoppers they will not receive refunds for returns. The news comes two weeks after Mike Ashley’s Frasers Group sealed a deal, worth around £20 million, to buy the business and assets of Missguided, as well as sister brand Mennace.
The Manchester-based company tumbled into insolvency last month after racking up millions of pounds in outstanding payments to creditors. However, Teneo, which was hired by Missguided to run the administration process, has told existing customers it will not be able to honour refunds as part of the insolvency process.
Missguided shoppers took to social media to air their frustrations. One customer said on Twitter that she was “freaking out” after being told she would not be refunded.
