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.
ADVERTISEMENT
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.”
ADVERTISEMENT
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.
ADVERTISEMENT
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.”
Featured Image – Channel 4
News
Police appeal for information regarding ‘serious assault’ around Old Trafford before United game in October
Danny Jones
Greater Manchester Police (GMP) are appealing for fresh information on a “serious assault” committed around the Old Trafford area earlier this year.
GMP issued a press release on Friday, 9 December, asking for members of the public to come forward and share any details they might have on the attack carried along Seymour Grove in Trafford around 1:30pm on 16 October 2022.
They go on to explain that “a man in his 20s was assaulted by a group of unknown males” on the way to the game at Old Trafford, adding that “it is believed that the suspects were also attending the Manchester United vs Newcastle United match.”
It remains unclear whether or not the assailants were travelling fans in town to support the away side but GMP are looking to speak to the men pictured as they may be able to help with enquiries.
Credit: GMP
As detailed in the statement, “the victim suffered a severely broken jaw, a broken nose, numerous cuts to the face, and damage to the nerves of four teeth which he is likely to need further medical treatment for.” Terrible stuff.
The authorities are continuing to investigate the Seymour Grove assault after having followed up on a number of lines of enquiry since the incident took place and are now asking for the public’s help.
Anyone with information, or anyone who may have footage/images, or can identify the men in the photos, can contact Greater Manchester Police on 101, quoting log number 1589 on 16/10/22; or, alternatively use the Live Chat service HERE.
Alternatively, information can be shared anonymously via the independent charity Crimestoppers on 0800 555 111.
Featured Image — Greater Manchester Police/David Dixon (via Geograph)
News
Football fans call out ‘tone-deaf’ FA TikTok for mocking ‘life-threatening’ head injury
Danny Jones
Football fans are calling out the official FA Cup TikTok account for mocking a serious head injury suffered by a Stockport County player earlier this week.
The Hatters beat Charlton Athletic in fine fashion with a 3-1 victory on Wednesday, 7 December, with Will Collar’s hattrick (the club’s first since 2019) sending them through to the next round of the cup.
However, another notable moment from the night was right back Macauley Southam-Hales’ collision with advertising hoarders after a shove from Charlton captain George Dobson.
As the likes of County fan Joel Ward wrote on Twitter, many online were quick to slam the clip for joking about an injury that hospitalised the player, the consensus being that it isn’t a “great look” for the FA.
Don’t think it’s a great look that the official @EmiratesFACup account is making joke tik toks about a head injury that sent our player to the hospital just a few weeks after a player nearly lost his life to a similar incident pic.twitter.com/7r9Stm8Vnr
While many reacting in the comments recognised that Dobson didn’t intend to hurt Southam-Hales by shepherding the ball out of play, the Stockport defender does hit the predominantly metal structure with some force and was left in clear discomfort following the smash.
The video itself has since been removed from the official account following the backlash but people are still reacting as the clip continues to be reshared on social media.
The clip was branded as everything from “disgusting” and “disgraceful” to “simply unbelievable”.
Considering it’s the FA cup and I’m assuming it’s an FA ran account, it should be someone pretty senior and stuff is checked thoroughly first before posting so this one’s gone under the radar I reckon.
What’s most concerning is that despite the recent push to promote awareness surrounding concussions, brain trauma and even heading the ball – which, historically, haven’t been properly monitored in football – whoever posted the video on behalf of the FA didn’t consider the very serious nature of the incident.
As alluded to above, perhaps what makes the post even more shocking and tone-deaf is that it comes just weeks after Bath City player forward Alex Fletcher was placed in intensive care following an almost identical accident.
The 23-year-old underwent life-saving brain surgery and although he has since been discharged from the hospital, he is said to have a “long road to recovery ahead of him”.
County confirmed that despite being the all-clear pitchside, Southam-Hales was taken to the hospital as a precaution after he suffered significant swelling around the neck area. Nevertheless, as we know all too well, it could have been much worse.
As for the FA, they have now apologised for the inappropriate attempt at humour, confirming that they have removed the video from all official accounts, admitting that “it should never have been published and assuring that they will “review [their] processes to ensure this never happens again.”
You can watch the full highlights from Stockport County vs Charlton Athletic HERE but we’d recommend you watch Alan Shearer reminding everyone who plays football to be more vigilant when it comes to head injuries.
Emily Sergeant -
31st May 2022 
