Missguided is on the brink of collapse a month after the online fashion giant shed 63 jobs and its founder quit as chief executive.
The company hired Teneo "to explore strategic options for the business" in April but has now been issued a winding-up petition by suppliers who are owed millions. The Manchester-headquartered business is now 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.
