It has been confirmed that Manchester-based online fast fashion retailer Missguided has appointed administrators in attempts to save the brand.
The multi-channel fashion retailer – which sells clothes primarily aimed at 16-35 year old women, and had its headquarters based in Stretford before moving to Trafford Park in 2015 – was founded by Nitin Passi back in 2009 when he was just 26, and it grew grew into one of Britain’s biggest online-led fashion retailers alongside ASOS and fellow Manchester-based fast fashion brands, Boohoo and Pretty Little Thing.
But now, Missguided has asked Teneo Financial Advisory to sell its business and assets.
It comes after the business was issued with a winding-up petition by clothing suppliers, who are owed millions of pounds.
Teneo said Missguided will continue to trade while it looks for a buyer.
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Gavin Maher from Teneo said there was “a high level of interest from a number of strategic buyers”.
The Manchester-based online fast fashion retailer was founded in 2009 / Credit: Missguided
He added in a statement: “As we continue to see, the retail trading environment in the UK remains extremely challenging [and] the joint administrators will now seek to conclude a sale of the business and assets, for which there continues to be a high level of interest from a number of strategic buyers.”
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The company employs around 330 staff members, with The Guardian reporting that about 140 jobs are thought to be at risk, and the publication citing a source as saying that more than 80 people had immediately been made redundant.
Reports suggest that rival and larger online fashion retailer, Boohoo – which bought a number of collapsing high street brands during the COVID-19 pandemic – had been in talks to buy Missguided in a prepack administration deal, and JD Sports and ASOS are also thought to have shown some interest, but a deal was not made.
The fashion retail company moved its HQ to state-of-the-art offices in Trafford Park in 2015 / Credit: Google Maps
In efforts to pinpoint why Missguided was on the brink of collapse, industry professionals and marketing experts said not only were some rival brands better, cheaper, and faster, but that shoppers now care more about sustainability and less about fast throwaway fashion.
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Julie Palmer – a partner at insolvency firm Begbies Traynor – also told the i newspaper that the cost of living crisis means shoppers are cutting back on spending on non-essentials like the fast fashion Missguided offers.
She said: “While Missguided boomed when we were locked down with no opportunity to spend wages going out, the harsh realities of post-pandemic life are becoming clear.”
The company has now asked Teneo Financial Advisory to sell its business and assets / Credit: Missguided
Ms Palmer added: “Rising inflation and worries about the potential for a recession mean that people just aren’t willing to spend on what they don’t need.
“Hopefully a buyer will see the potential in this company that means its suppliers continue to find an outlet for their products.”
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News
The Premier League is keeping its crucial cap on away game ticket prices – for now
Danny Jones
The Premier League has announced it is extending its crucial price cap for away games, as the general cost of match tickets continues to creep up all over the country.
Most season card holders, be they here in Greater Manchester or elsewhere, are likely looking at their annual spending going up simply, so steps like these are key in keeping first division football as affordable as possible.
And that’s just the ongoing cost of living, let alone the clubs that are continuing the trend of charging more each year and, unfortunately, even pricing some supporters out entirely.
With that in mind, the news of England’s top-flight sides voting unanimously to keep the £30 cap intact for at least another two years comes as relief to those who spend most of the year putting their hard-earned cash towards following their team home and away.
BREAKING: The Premier League extend £30 cap on away tickets for another two seasons 🚨 pic.twitter.com/L336aZwmn3
Now confirmed to remain in place until the end of the 2027/28 campaign, travelling fans obviously still spend plenty of money on transport and so on every year, but at least they don’t have to worry about rising general admissions.
At least not for the time being…
Writing in a statement, the Premier League said: “Away fans help create the incredible atmosphere Premier League matches are renowned for. Since the cap’s implementation in 2016, it has contributed to attendance at away games increasing from 82% to 91%.”
They also acknowledged the significant and regular funds that supporters still spend on these trips, with plenty of people online also praising the Football Supporters’ Association (FSA), which helped spearhead the campaign over a decade ago.
With so many other obstacles still getting in the way of fans making it to games either at their usual stadium or on an away day – not least of all the constant and increasingly frustrating rescheduling of fixtures – it’s good to see this isn’t an area the Prem are trying to target.
As always, the multi-billion-pound business can always seek out other, newer money spinners, and we’re absolutley certain they will. For instance, there’s at least one happening over in Spain that we’d happily see carried over here.
Following the news, this now means that fans will ultimately have enjoyed 12 back-to-back seasons of the benefit, and long may it continue.
Nevertheless, the biggest barrier for people to watch the beautiful game at its highest level in the UK remains the cost of standard tickets.
The likes of Manchester United, Arsenal, Leeds and more have already let matchgoers know that their season ticket prices will be going up, and the likes of Man City have already seen backlash for increasing rates amid the expansion of the Etihad Campus.
Greater Manchester’s fire service officially rated ‘outstanding’ following inspection
Emily Sergeant
Greater Manchester’s fire service has officially been rated ‘outstanding’.
His Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) has awarded published its latest inspection report, and has awarded Greater Manchester Fire and Rescue Service (GMFRS) two ‘Outstanding’ ratings for the first time in the service’s history.
One ‘outstanding’ rating was given for the preventing of fire and emergencies, and one for values and culture.
Some of the areas of strength noted in the report include outstanding prevention work, acknowledging the service’s innovative partnership activity and targeted risk reduction programmes, and a ‘strong, positive, and inclusive’ culture, with strong communication and a clear focus on values, staff voice, and transparent decision making.
The service was also commended for having high levels of operational preparedness, and ‘effective’ governance and scrutiny, with ‘clear’ performance reporting and strategic direction.
In addition to the two ‘Outstanding’ ratings, inspectors also rated GMFRS as ‘Good’ in seven of the eight other inspection categories – including responding to fires and other emergencies, training and developing the right people with the right skills, and ensuring fairness and diversity across the workplace.
Inspectors also acknowledged the ‘significant capacity pressures’ on fire safety regulation across the UK, and the unique challenges posed by Greater Manchester’s complex and fast-changing urban environment.
“Greater Manchester has a fire and rescue service we can be proud of,” commented Mayor Andy Burnham, as the inspection report was published this week.
Greater Manchester’s fire service has officially been rated ‘outstanding’ following its latest inspection / Credit: GMFRS
“I’ve often said that GMFRS is one of the best services not just in this country, but anywhere. The inspectors’ findings reinforce this belief. I’m pleased that this strong inspection report recognises its outstanding prevention work as part of Greater Manchester’s Live Well approach, its outstanding culture and values, and consistently good performance across almost every other area.”
Chief Fire Officer, Dave Russell, added: “I am really pleased that the inspectors have recognised our progress towards this goal, by awarding us ‘Outstanding’ ratings for the first time in our service’s history.
“I am particularly pleased to have been awarded these for our nation-leading work on prevention, helping us to use our resources in the most effective way, and in our service’s culture, which I made my number one priority when joining the service.”
Emily Sergeant -
31st May 2022 
