{"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<p class=\"wp-block-paragraph\">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<p class=\"wp-block-paragraph\">Chief executive Michael Murray said the group, which also owns House of Fraser, was &#8220;delighted to secure the fast fashion company&#8217;s long-term future.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the source, 87 employees will be laid off, and 147 will be transferred to Frasers Group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Teneo, the administrator, refused to comment on job losses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It will run the business for about eight weeks during the transition period. Frasers will then take on the business as a &#8220;standalone business&#8221; within the group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Missguided has faced supply chain issues, rising freight costs, and increased competition from competitors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Suppliers were accused.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Frasers Group confirmed it had purchased Missguided and its sister brand Mennace&#8217;s intellectual property.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Missguided&#8217;s digital-first approach to the latest trends in women&#8217;s fashion will bring additional expertise to the Frasers Group,&#8221; Mr Murray said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Missguided, a fast fashion brand, has gone bankrupt.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More clothes are being returned by customers at Boohoo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nitin Passi founded the Manchester-based company in 2009, and it has since grown to become one of the UK&#8217;s largest online fashion players. However, it has struggled to turn a profit in recent years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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":"<p>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":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sports Direct owner Frasers Group<\/title>\n<meta name=\"description\" content=\"Frasers Group, the parent company of Sports Direct, has 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href=\"https:\/\/dailyrapidnews.com\/eng\/category\/business\/\" rel=\"category tag\">Business<\/a>","tag_info":"Business","comment_count":"0","jetpack-related-posts":[{"id":18834,"url":"https:\/\/dailyrapidnews.com\/eng\/2022\/06\/15\/missguided\/","url_meta":{"origin":17772,"position":0},"title":"Furious Customers of Missguided have been told that they will not receive refunds following the retailer&#8217;s bankruptcy.","date":"June 15, 2022","format":false,"excerpt":"Missguided hired Teneo to handle the administration, but customers on social media say they've been told their refunds will not be honoured. Missguided customers are outraged after administrators tell them they will not receive refunds. 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He noted that authorities had set aside 3.36 billion rubles ($41 million) to\u2026","rel":"","context":"In &quot;latest&quot;","img":{"alt_text":"Western leavening might lose 200,000 jobs in Moscow.","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2022\/04\/Western-leavening-might-lose-200000-jobs-in-Moscow..jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":10445,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/05\/09\/beer-shortage-fears-as-budweiser-and-heineken-hit-by-soaring-demand-as-pubs-reopen\/","url_meta":{"origin":17772,"position":3},"title":"Beer shortage fears as Budweiser and Heineken hit by soaring demand as pubs reopen","date":"May 9, 2021","format":false,"excerpt":"Budweiser and Heineken are the worst affected brewers amid a major beer shortage as demand soars after pubs reopened, it has been claimed. Retailers and wholesalers said there are supply issues on multiple core beer lines, with a shortage of drivers also part of the problem. It comes as pubs,\u2026","rel":"","context":"Similar post","img":{"alt_text":"Beer-shortage-fears-as-Budweiser-and-Heineken-hit-by-soaring-demand-as-pubs-reopen-rapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Beer-shortage-fears-as-Budweiser-and-Heineken-hit-by-soaring-demand-as-pubs-reopen-rapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625,"url":"https:\/\/dailyrapidnews.com\/eng\/2020\/12\/31\/french-fashion-designer-pierre-cardin-has-died-at-the-age-of-98\/","url_meta":{"origin":17772,"position":4},"title":"French fashion designer Pierre Cardin has died at the age of 98","date":"December 31, 2020","format":false,"excerpt":"The\u00a0French designer Pierre Cardin, who upended\u00a0fashion\u00a0in the 1960s and 70s with his futuristic looks and pioneering approach to merchandise,\u00a0has died at the age of 98. 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The footage shows the model walking down the runway in New York for designer Christan Cowan when she turns around and hits an audience member\u2026","rel":"","context":"In &quot;Stories&quot;","img":{"alt_text":"VIDEO Fashion Model Caught Hitting An Audience Member","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2022\/01\/VIDEO-Fashion-Model-Caught-Hitting-An-Audience-Member.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/17772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/comments?post=17772"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/17772\/revisions"}],"predecessor-version":[{"id":17776,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/17772\/revisions\/17776"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=17772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=17772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=17772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}