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Missguided rescued by Frasers Group

Mike Ashley’s Frasers Group has acquired the Missguided fashion retailer out of administration in a £20 million deal. It has also purchased the company’s menswear brand,… View Article

FASHION RETAIL NEWS UK

Missguided rescued by Frasers Group

Mike Ashley’s Frasers Group has acquired the Missguided fashion retailer out of administration in a £20 million deal.

It has also purchased the company’s menswear brand, Mennace.

Until the acquisition is completed, the business will be operated by the administrator under a transitional agreement for around eight weeks. In a statement, Frasers said Missguided will then operate as a standalone business within its group.

Michael Murray, chief executive of Frasers Group, said: “We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of FG’s platform and our operational excellence. Missguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the wider Frasers Group.”

Missguided called in administrators earlier this week after failing to secure a last minute buyer.

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