- Tuesday, April 23, 2024
FRASERS GROUP has divested the Missguided brand to the fast fashion giant Shein more than a year after it rescued the business founded by a British Asian entrepreneur.Shein will acquire the intellectual property rights and trademarks of Missguided, while Frasers will retain its real estate and employees that have now…
IN a strategic move, Mike Ashley's Frasers group has surged ahead of Boohoo's founder, Mahmud Kamani, to become the largest single shareholder in the fast-fashion retail giant, reported The Telegraph. Regulatory filings on Friday (6) revealed that Frasers group had increased its stake in Boohoo to 13.4 per cent, following…
RETAIL major Frasers Group has continued to up its stake in Boohoo, taking its total shareholding in the Manchester-based rival to 10.42 per cent. On July 31, Frasers revealed that its shareholding in Boohoo had gone up from 6.8 per cent to 7.8 per cent. The Mike Ashley-founded company said…
The number of restaurant insolvencies has risen by around two thirds from 856 in the financial year 2020/21 to over 1,400 this year, largely due to soaring inflation and severe staff shortages. In the current economic climate, many different types of business from large retail companies facing administration to hauliers…
In a major setback to the suppliers of fashion retailer Missguided, they are expected to receive less than 2 per cent of the £30 million owed to them following the collapse of the firm, The Guardian reported. One supplier said the repayment plan is a 'massive kick in the teeth'.…
LAST month, fast-fashion retailer Missguided was acquired by Frasers Group in a £20 million rescue deal. Now, the company which was founded by Nitin Passi in 2009 has changed its registered business name to MGL Realisations (2022) Limited, according to reports. However, the Manchester-based company will continue to trade as…
A UK MP has said that she was gravely concerned by the 'shambolic mismanagement of Missguided' and urged the government and the new owners to help Leicester garment workers unpaid for their labour. Leicester East MP Claudia Webbe in a statement said that the firm 'gambled recklessly' with the livelihoods…
ONLINE fashion retailer Missguided has been bought out of administration by Mike Ashley's Frasers Group for £20 million, according to reports. Missguided, founded by Nitin Passi, fell into administration on Monday (30) when it failed to secure a last-minute buyer to overcome the financial crisis. The company was issued with…
FASHION retailer Missguided may call in administrators as early as Monday (30) as it is on the brink of collapse after being issued a winding-up petition by creditors, the BBC reported. Missguided, which has about 330 staff, was rescued last autumn by the finance firm Alteri Investors. According to reports,…
BRITISH fast-fashion retailer Missguided is trying to raise emergency funds as supply chain disruption has hit the firm hard, reported The Times. Nitin Passi-owned Missguided is working with restructuring experts at AlixPartners to find an investor to survive the crisis, the report added. Reports said that online retailers have suffered…
My dog: I have always had love for animals, but when I brought a dog home everything changed for me. He owns me and makes me the happiest. Animals are so innocent. My dog taught me compassion and is the reason I quit meat. He taught me about animal emotions;…