EXCLUSIVE: Anna Baryshnikov (Dickinson) will join Oscar nominee Kristen Stewart in A24’s romantic thriller Love Lies Bleeding from double BAFTA Award-nominated director Rose Glass (Saint Maud).
31.05.2022 - 11:23 / manchestereveningnews.co.uk
Missguided has fallen into administration after failing to secure a last-minute buyer - putting over 300 Manchester based jobs at risk.
The fast fashion company was issued a winding-up petition last week by suppliers who are owed millions. It comes after police were called to the retailer's Trafford headquarters after suppliers turned up demanding overdue payments be made.
Insolvency specialists are now seeking to sell the business and assets of the retailer, which employs around 330 staff, the PA News Agency reports.
READ MORE:Suitcases 'lost' on Ryanair flight causes family to spend €500 on new clothes
Missguided was founded in 2009 by Nitin Passi and grew rapidly amid rising demand for online fashion. However, the company was hit hard by surging supply costs, wider inflationary pressures and waning consumer confidence in the increasingly competitive market.
Boohoo had been in talks to buy the business in a pre-pack administration deal, while Asos and JD Sports were also reported to have been interested.
Administrators said the business will continue to trade while they seek to sell off assets and stressed that there has been a "high level of interest."
Gavin Maher, of Teneo, said: "As we continue to see, the retail trading environment in the UK remains extremely challenging. 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.
"We thank all employees and other key stakeholders for their support at this difficult time." Last autumn, Missguided was saved in a takeover by investment firm Alteri, which announced redundancies in December as part of a turnaround plan.
However, last month the
EXCLUSIVE: Anna Baryshnikov (Dickinson) will join Oscar nominee Kristen Stewart in A24’s romantic thriller Love Lies Bleeding from double BAFTA Award-nominated director Rose Glass (Saint Maud).
Harry Styles had a surprise for someone very special to him, as he performed the first of two huge homecoming gigs in Manchester, U.K. on Wednesday.
A £2.07bn bid to takeover online retail and software giant THG has been abandoned by the two investment companies behind it.
A family from Devon have had to relocate to Manchester in order to treat their nine-year-old boy's bone cancer. Jack Middleton, a young motocross star, is being cared for in the Royal Manchester Children's Hospital.
Nitin Passi, the founder of fast fashion company Missguided which was recently acquired by Frasers Group after collapsing into administration, has returned as its chief executive.
Fans tuning in to watch the annual Soccer Aid charity match for UNICEF were eagerly anticipating Liam Payne's pre-match interview. Liam, who is captain of England in the England vs World XI game on ITV, were wondering what his accent would be after his famous chat from the Oscars earler this year.
Former Missguided employees claim they found out they were being made redundant via an 'emotionless' automated voice message amid reports they are taking legal action against the company. Some 330 jobs were put at risk after the Greater Manchester-based fast fashion retailer went into administration last month, following claims the firm owed millions of pounds to suppliers.
Nearly 36,000 older people in Greater Manchester are missing out on more than £1,700 a year in pension top-up payments, new figures reveal. Around £70 million is unclaimed across the city-region, with pensioners now being urged to check if they are eligible for the payment which 'could make all the difference'.
Manchester United are set for their most important summer transfer window for decades.
Rio Ferdinand has detailed his love for Old Trafford as the iconic Manchester United stadium prepares to undergo redevelopment over the coming months.
Missguided has appointed administrators after suppliers filed to shut it down over unpaid debts of millions of pounds.The fashion brand called in Teneo Financial Advisory on Monday 30 May to sell its business and assets after clothing supplier JSK Fashions issued a winding-up petition on 10 May. According to The Guardian, 140 jobs are thought to be at risk, while a source told the publication that over 80 people have already been made redundant.
A charity has been awarded a Queen's Award for Voluntary Service for 30 years of improving wellbeing in BAME communities of North Manchester.
Missguided is on the brink of collapse a month after the online fashion giant shed 63 jobs and its founder quit as chief executive.
Here are your Manchester United morning headlines on Friday, May 27.
For the third year running, Hotel Indigo Manchester - Victoria Station has picked up TripAdvisor's 2022 Travelers’ Choice Award. The award was bestowed on the city centre hotel earlier this month for ‘demonstrating a commitment to excellence’.
Manchester United are set for pivotal summer ahead as the club begins its new era under Erik ten Hag.
Incoming Manchester United manager Erik ten Hag has expressed his excitement to work with superstar Cristiano Ronaldo - quashing uncertainty surrounding the Portugal captain's future.
Well Pharmacy, whose head office is based in Merchants Warehouse, Manchester, has announced its first partnership with Mind, the leading mental health charity in England and Wales. The partnership, launched as part of Well Pharmacy’s Culture Code commitment, aims to raise up to £200,000 in its first year. The money will help support Mind’s services, including the Mind Infoline, legal line, and online community, Side by Side.
It's a landmark known across Greater Manchester. Soon, a new community will emerge in the shadow of Stockport's famous viaduct.