Fashion brand Missguided has fallen into administration after suppliers filed to shut it down over unpaid debts. Founded in 2009 by Nitin Passi, the retailer sells clothes and accessories across 180 countries and it quickly became one of the UK’s biggest online fashion retailers.
The Manchester-based business struggled to make a profit in the last few years but was rescued by finance firm Alteri Investors before founder Passi stepped down as CEO in April.
Teneo Financial Advisory has been asked to sell Missguided ’s business and assets. They have confirmed the online store will continue to trade while it looks for a buyer. It’s rumoured fast fashion brand Boohoo is among those interested in buying Missguided, the online only retailer bought multiple High Street stores that collapsed during the pandemic.
