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Missguided: Sports Direct owner Frasers Group buys fashion retailer after collapseon June 1, 2022 at 6:36 am

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Frasers Group says it is “delighted to secure a long-term future” for the fast fashion company.

A mobile phone showing the Missguided website

Image source, Getty Images

Sports Direct owner Frasers Group has bought Missguided for £20m, after the online fashion retailer collapsed into administration.

Chief executive Michael Murray said the group, which also owns House of Fraser, was “delighted to secure a long-term future” for the fast fashion company.

The firm, which has around 330 staff, appointed administrators on Monday.

It has suffered from supply chain problems, rising freight costs and increasing competition from rivals.

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