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. Some 87 staff will be made redundant and 147 are expected to move to Frasers Group, the BBC understands. Missguided has suffered from supply chain problems, rising freight costs and increasing competition from rivals. Suppliers had accused the business of leaving millions of pounds of debts unpaid. The Manchester-based business was founded by Nitin Passi in 2009 and grew to become one of the UK's biggest online fashion players. But in the last few years it has struggled to make a profit. Missguided customers have been tweeting the company to complain that orders have not arrived, returns not processed and refunds not received. The brand had also faced increased competition from fast fashion rivals such as Boohoo and Shein, a Chinese company which saw its popularity surge during the pandemic. Missguided will become the latest troubled brand to join the group, after it snapped up Game, Evans Cycles, Jack Wills and Sofa.com in similar deals.
