May 27, 2022
Missguided fashion chain on the verge of collapse
Online fashion retailer Missguided is on the brink of collapse after being issued with a winding-up petition by creditors. In recent weeks Alteri has been trying to secure a sale of the fast-fashion business. According to a report in the i newspaper, police were called to Missguided's Manchester headquarters after suppliers turned up earlier this week demanding overdue payments. Supplier JSK Fashions issued a winding up petition on 10 May.A creditor - in this case one of Missguided's suppliers - can apply to a court to close a company if it is unable to pay its debts. 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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