Missguided is teetering on the brink of collapse after being issued a winding-up petition by suppliers owed millions.
The online fashion giant is understood to be lining up administrators from Teneo for a potential insolvency process. Police were called to the retailer's Manchester headquarters after suppliers turned up earlier this week demanding overdue payments be made, according to reports by The i.
On May 10, a winding-up petition was issued against Missguided by clothing supplier JKS Fashions. Creditors have applied for compulsory liquidation and a Manchester court is due to hear the case in July.
