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Manchester Evening News

World

Jon Robinson

Nitin Passi returns as Missguided CEO - eight weeks after stepping down when firm plunged into administration

Nitin Passi Missguided Frasers Group Frasers

Nitin Passi, the founder of fast fashion company Missguided which was recently acquired by Frasers Group after collapsing into administration, has returned as its chief executive.

Mr Passi stepped down from the role in April as the Manchester business announced it was to cut 63 jobs. At the same time, Missguided announced it had appointed Teneo "to explore strategic options for the business".

That move led to the company entering administration and then being bought by Frasers Group, which also owns the likes of Sports Direct and House of Fraser. Missguided was founded by Mr Passi in 2009 and sold a 50% stake to Alteri Investors towards the end of 2021.

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