British online retailer Missguided has reportedly launched a “comprehensive restructure of the business”, which could put around 140 jobs at risk, after it continued to face a series of pandemic-related issues.
The 45-day consultation is said to have come as the retailer suffered from supply chain disruptions, inflation and a drop in consumer demand over the last 18 months.
In a statement shared to BusinessLive, the fast-fashion brand stated it had “had not been immune” to the challenges caused by the pandemic and it began to seek help from external consultants towards the end of 2021.
The statement continued: “That review has concluded that it needs to align its costs to better match its current performance and it has today [March 2] proposed a comprehensive restructure of the business that sadly places a number of roles at risk of redundancy. Missguided’s first priority is its staff.”
The company said those that could be affected by the restructuring have already been briefed and if proposals are agreed upon it may result in redundancies at its Manchester headquarters.
The news follows Missguided selling a 50 percent stake in the business to Alteri Investors, completed at the end of 2021.
FashionUnited has reached out to Missguided for comment.