Jun 1, 2022
Mike Ashley’s Frasers Group buys Missguided out of administration
Frasers Group has bought online fashion retailer Missguided out of administration, its first acquisition under new chief executive Michael Murray. Administrators were appointed at Missguided on Monday after efforts to secure a solvent sale of the business failed. Missguided will continue to be operated by administrators at Teneo for eight weeks before becoming a standalone business within Frasers, which also operates the eponymous department store chain and is controlled by Mike Ashley. Along with companies such as AO, Boohoo and THG, Missguided was one of the leading lights of a growing community of ecommerce businesses in north-west England. Alteri, the Apollo-owned specialist retail investor, took a stake in Missguided in December 2021 and injected additional funds into the business.
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