Missguided SAVED as Mike Ashley’s Frasers Group buys online retailer after administration talks fail

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Online fashion giant Missguided has been prematurely saved after hitting the brink of collapse.

Mike Ashley’s Fraser Group reveals it has taken the fast fashion retailer out of administration.

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Misguided was previously said to be on the verge of collapsecredit: alamy

clothing company The suppliers were accused of non-payment and were facing collapse.

A winding up petition was issued against missguided By supplier JSK Fashion on May 10, according to Retail Gazette.

But in a scary U-turn today, Fraser Group Chief Executive Michael Murray said: “We are delighted to have secured a long-term future for Missguided, benefiting from the strength and scale of Fraser Group’s platform and our operational excellence. Will happen. .

“Misguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the broader Fraser Group.”

Factory owners recently claimed millions of pounds out of pocket and are now facing even less.

Police were reportedly called to the company’s head office in Manchester because of the suppliers’ allegations.

This is a developing story…

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