Missguided news and archive

Frasers Group appoints CEO for Missguided and I Saw It First

Frasers Group has reportedly appointed a chief executive officer to take the helm of two Manchester-based fast fashion companies it bought in quick succession in recent months. Greg Pateras is the new joint CEO of Missguided and I Saw It First, according to a memo seen by Retail Gazette. FashionUnited has reached out to Frasers Group for...

Business

Missguided suppliers expected to get just 2 percent of 30 million pounds owed

Missguided suppliers are expected to receive just 2 percent of the 30 million pounds they are owed by the fast fashion retailer’s main trading entity. According to an administrators’ report sent to creditors and seen by The Guardian, the group will pay out less than 1.7p for every pound owed to its suppliers. Missguided had racked up debts of...

Business

Missguided changes company name following acquisition

Missguided has changed its official company name to MGL Realisations (2022) Limited, according to documents filed with the UK government’s Companies House this week. The Manchester-based company, which will continue to trade as Missguided, collapsed into administration on June 7 after it was issued a winding-up order by one of its suppliers JSK...

PeopleFeatured

Missguided founder Nitin Passi returns as CEO following Frasers Group acquisition

The founder of fast fashion retailer Missguided has been reappointed to its helm following its acquisition earlier this month by Frasers Group. Frasers Group said Wednesday it was “pleased to announce that Nitin Passi will join Frasers Group as CEO of Missguided with immediate effect”. Passi said: “Frasers Group has an unrivalled platform and...

BusinessFeatured

Frasers Group buys Missguided out of administration

Mike Ashley’s Frasers Group has snapped up fast fashion retailer Missguided for 20 million pounds just a day after it fell into administration. In an announcement to the stock market Wednesday, Frasers said it had bought certain intellectual property of Missguided Limited, along with Mennace Limited, and Missguided (IP) Limited. Acquisition...

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Fast fashion retailer Missguided collapses into administration

British fast fashion retailer Missguided has fallen into administration after failing to find a buyer. The company called in administrators from Teneo on Monday after it was issued a winding-up order by supplier JSK Fashions which said the retailer owed it millions of pounds, Sky News reports. “As we continue to see, the retail trading...

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Boohoo potentially eyeing Missguided rescue deal as e-tailer verges on administration

Fast fashion group Boohoo has reportedly expressed its interest in buying rival Missguided, which is said to be on the verge of administration. The news comes as the e-tailer was faced with a winding-up order that it was served with last week by one of its suppliers, JSK Fashions, which accused the company of leaving it millions out of pocket....

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Missguided calls in advisory firm, CEO Nitin Passi steps down

The CEO and founder of British fast fashion retailer Missguided has stepped down after the business called in advisory firm Teneo to explore strategic options. Nitin Passi, who founded Missguided in 2009, is stepping away from his “day-to-day leadership” but will remain on the retailer’s holding company as it “explores strategic partnership...

Business

Missguided hit by multiple industry issues, reportedly risks 140 jobs

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...

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Alteri announces “significant investment” in Missguided

Alteri Investors, the specialist European retail investor, is backing fast-fashion brand Missguided with significant investment to help the online retailer following a challenging pandemic period. Alteri’s investment comprises of both debt and the acquisition of 50 percent of the group’s equity to provide Missguided with the liquidity and...

Fashion |In Pictures

In Pictures: Missguided ventures into kidswear

Fashion e-tailer Missguided has announced it will be debuting a children’s collection entitled MG Kids, bringing its affordable trend-led offerings into the kidswear market. The line is inspired by celebrity influence, on-trend staples and will introduce matching ‘mummy and me’ looks. Pieces are to include varsity jackets, sweat sets, puffer...

People

Missguided appoints new chief digital officer

Missguided has appointed Nick Thomas as chief digital and commercial officer. According to LinkedIn, Thomas joined the UK fashion retailer last month. He joins from Holland & Barret, where he has been chief digital officer since 2019. In his new role, Thomas will be responsible for overseeing the fast fashion company’s e-commerce, digital...