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.
Read more: Missguided collapses into administration putting over 300 Manchester-based jobs at risk
Outstanding online orders will still be honoured and new orders can still be made on the Missguided website. If you’re considering placing an order with Missguided, Moneysavingexpert.com suggests paying with a card as it will give you additional rights if orders stop being honoured.
According to Section 75 of the Consumer Credit Act, the credit card’s firm are equally liable if something goes wrong for an order costing between £100 and £30,000. You may be able to claim your money in the case of claiming a refund.
If your order costs less than £100, you can submit a chargeback claim. In this case you contact your bank directly and ask them to reverse a transaction in order to get your money back. However, you will need to do this within 120 days from the date you made the order.
Missguided’s refunds and returns portal are operating as normal at the time of writing. If you have items to return you should do it as soon as possible to avoid any complications.
