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The Guardian - UK

Business

Sarah Butler

Missguided suppliers expected to be paid less than 2% of £30m owed

Missguided Nitin Passi Alteri Frasers Teneo

Nitin Passi at the Sofia Richie x Missguided launch party in 2019 in West Hollywood, California — Missguided, founded by Nitin Passi, grew fast but struggled in the face of renewed competition from high street stores. Photograph: Morgan Lieberman/Getty Images

Suppliers to the online fashion retailer Missguided are expected to be paid less than 2% of the £30m owed to them by its main trading entity after the company collapsed in May.

The group will pay out less than 1.7p in the pound to factory owners supplying its main brand after it collapsed with long-term debts of more than £80m, up from £57m in 2021, an administrators’ report sent to creditors this week reveals.

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