{"id":17772,"date":"2022-06-01T20:43:45","date_gmt":"2022-06-01T15:43:45","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=17772"},"modified":"2022-06-01T20:43:49","modified_gmt":"2022-06-01T15:43:49","slug":"sports-direct-owner-frasers-group","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2022\/06\/01\/sports-direct-owner-frasers-group\/","title":{"rendered":"Sports Direct owner Frasers Group acquires the fashion retailer following its bankruptcy."},"content":{"rendered":"\n

Frasers Group, the parent company of Sports Direct, has purchased Miss guided for \u00a320 million after the online fashion retailer went bankrupt.<\/p>\n\n\n\n

Chief executive Michael Murray said the group, which also owns House of Fraser, was “delighted to secure the fast fashion company’s long-term future.”<\/p>\n\n\n\n

According to the source, 87 employees will be laid off, and 147 will be transferred to Frasers Group.<\/p>\n\n\n\n

Teneo, the administrator, refused to comment on job losses.<\/p>\n\n\n\n

It will run the business for about eight weeks during the transition period. Frasers will then take on the business as a “standalone business” within the group.<\/p>\n\n\n\n

Missguided has faced supply chain issues, rising freight costs, and increased competition from competitors.<\/p>\n\n\n\n

Suppliers were accused.<\/p>\n\n\n\n

Frasers Group confirmed it had purchased Missguided and its sister brand Mennace’s intellectual property.<\/p>\n\n\n\n

“Missguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the Frasers Group,” Mr Murray said.<\/p>\n\n\n\n

Missguided, a fast fashion brand, has gone bankrupt.<\/p>\n\n\n\n

More clothes are being returned by customers at Boohoo.<\/p>\n\n\n\n

Nitin Passi founded the Manchester-based company in 2009, and it has since grown to become one of the UK’s largest online fashion players. However, it has struggled to turn a profit in recent years.<\/p>\n\n\n\n

It was rescued last autumn by the finance firm Alteri Investors, with Mr Passi stepping down as CEO in April.<\/p>\n","protected":false},"excerpt":{"rendered":"

Frasers Group, the parent company of Sports Direct, has purchased Miss guided for \u00a320 million<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[1238],"class_list":["post-17772","post","type-post","status-publish","format-standard","hentry","category-business","tag-frasers-group"],"yoast_head":"\nSports Direct owner Frasers Group<\/title>\n<meta name=\"description\" content=\"Frasers Group, the parent company of Sports Direct, has purchased Miss guided for \u00a320 million after the online fashion retailer went bankrupt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailyrapidnews.com\/eng\/2022\/06\/01\/sports-direct-owner-frasers-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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