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Missguided is reportedly on th...

Lifestyle

Missguided is reportedly on the brink of collapse after racking up major debts

Jonathan Duane
Jonathan Duane

03:48 29 May 2022


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The popular online retailer seems to be in some trouble.

Online fashion retailer Missguided is reportedly on the brink of collapse.

According to UK media outlets, this comes after the company was issued with a winding-up petition by creditors,

The BBC report the business, which employs about 330 staff, could have to call in administrators as early as Monday.

Missguided was founded by Nitin Passi in 2009 and grew to become one of the UK's biggest online fast-fashion sites.

The business has since expanded across Europe, the US and Australia and ships to more than 180 countries.

It had a few physical stores, which have now all closed in the UK, as the cost was more than revenue.

According to her.ie, a Missguided spokesperson said:

"Missguided is aware of the action being taken by certain creditors of the company in recent days and is working urgently to address this.

A process to identify a buyer with the required resources and platform for the business commenced in April and we expect to provide an update on progress of that process in the near future."


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