The fast fashion retailer Missguided has been placed in compulsory liquidation. The decision comes as the British company’s search for a new buyer has not resulted in any agreement.
In April, Nitin Passi, the CEO and founder of Missguided, resigned following the company brought in consultancy firm Teneo to explore strategic options.
On Monday, Teneo’s Gavin Maher told Sky media: “As we continue to see, the retail environment in the UK remains extremely challenging.”
He adds: “The joint directors will now seek to complete a sale of the business and assets for which there continues to be a high level of interest from a number of strategic buyers. »
While around 140 jobs are believed to be at risk, a source told Britain’s The Guardian newspaper that more than 80 people have already been made redundant.
Teneo clarified that Missguided would continue to be active while the search for a new buyer. For the time being, however, the French, Spanish, German, American and European e-commerce platforms of Missguided are no longer accessible. The e-shop dedicated to the British market remains open.
