Customers of collapsed fashion retailer Missguided will not receive refunds for returns, administrators have said. The Manchester-based company went insolvent last month after piling up millions of pounds in money it owed to creditors.
Two weeks ago, 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. 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.
Typically, customers are often among the last on the list of creditors to receive repayments if a company goes bust. Missguided shoppers aired their frustrations on social media.
