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
Arrest made after 14-year-old boy found in critical condition on Market Street
Daisy Jackson
An arrest has been made after a teenage boy was found unresponsive on Market Street in Manchester city centre.
Detectives believe that the boy, 14, was approached by seven males who stole a designer jacket from him.
Following the altercation, he went into cardiac arrest and was rushed to hospital in a critical condition.
Thankfully, the teenager is continuing to recover well.
Detectives from Manchester City Centre Criminal Investigation Department confirmed that an 18-year-old male was arrested yesterday, Thursday 20 February.
He has been arrested on suspicion of robbery and remains in police custody.
Detective Inspector Mark Astbury of GMP’s City Centre Criminal Investigation Department, said: “We hope the victim can continue his recovery following what must have been a terrifying ordeal for him.
“Officers are fully investigating all aspects of this shocking incident that has left a man with serious injuries in hospital.
“Our work doesn’t stop here, we are continuing to investigate this incident and information from the public plays an incredibly important role in our investigations and I ask that the community keep talking to us and keep sharing their concerns with us so our teams can act.”
If you have any information, contact GMP 101 or 0161 856 4305 quoting log 2854 of 16/2/25.
Comedy is being prescribed instead of antidepressants as part of UK trials
Emily Sergeant
Trials are currently underway to see if comedy could be an alternative to antidepressants as a way to reduce NHS costs.
UK tech company Craic Health has secured important funding for its ‘comedy on prescription’ project that’s aimed at helping the Government work with the comedy industry, communities, and organisations on comedy-based social prescriptions in the hope that they can solve financial struggles within the NHS.
The groundbreaking scheme uses stand-up shows and workshops to help people who are isolated, lonely, and vulnerable.
Craic believes comedy is an ‘untapped opportunity’ to improve health and wellbeing, and has a goal to make comedy easier to access, so that it can help communities experience its mental health and social benefits.
To achieve this, the company has started trialling Comedy-on-Prescription experiences in the UK – starting in London, with the potential for expansion – which includes things like curated comedy panel game show events and workshops, and general stand-up comedy shows at some of the capital’s world-famous venues.
Comedy is being prescribed instead of antidepressants as part of UK trials / Credit: Wikimedia Commons
“Mental health issues like loneliness, isolation, and stress are more common than ever,” the company explains.
“So much so that it’s projected that by 2030, mental health problems, particularly depression, will be the leading cause of mortality and morbidity globally, [but] in this challenging world, comedy stands out as a universal language that breaks barriers.
“Research shows that comedy and laughter have powerful effects – they bring people together, create positive connections, and make life more enjoyable.”
Craic Health says that social prescribing, of which Comedy-on-Prescription is a part of, is all about inclusivity, which makes it making it suitable for people of all ages, backgrounds, and abilities.
Its focus is on personalised support, tailored to individual needs and preferences.
Emily Sergeant -
31st May 2022 
