Missguided, the net vogue specialist, known as directors after failing to safe a ransom supply.
The Guardian understands that Teneo’s directors had been appointed on Monday after the corporate acquired a liquidation petition from clothes suppliers owed tens of millions of kilos. Almost 140 jobs are in danger.
Boohoo, a bigger on-line vogue specialist, had been in talks to purchase Missguided in a prepack administration deal, whereas JD Sports activities and Asos are additionally believed to have had a glance, however a deal couldn’t be closed.
The corporate was nonetheless receiving orders on Monday, however the sources stated it was unclear whether or not the group’s distribution accomplice, GXO, was nonetheless dealing with these orders.
A few of the on-line retailer’s UK and abroad suppliers instructed The Guardian they hadn’t been paid for months.
Based in 2009 by Nitin Passi, Missguided was one of many few on-line vogue manufacturers to succeed at a time when consumers had been more and more turning their backs on the normal excessive road.
Through the pandemic, the corporate loved speedy progress within the UK and expanded to the US, Australia, France and Germany, however has struggled lately as brick-and-mortar shops reopened and buying energy took successful. the price of residing disaster.
Final fall, the net retailer was saved from collapse when retail investor Alteri, backed by funding agency Apollo, stepped in and introduced layoffs in December as a part of a turnaround plan.
Final month, Missguided stated it was in search of a brand new purchaser when Passi stepped down as chief government.