Missguided attracts interest from several UK retailers

A number of major UK retailers including JD Sports, Asda, Asos, Shein and Frasers Group are all mulling bids for fast fashion firm Missguided.

The news comes after Missguided hired advisers from Teneo to explore strategic options for the business, including a possible sale, as its founder and chief executive Nitin Passi stepped down from the company.

Private equity giants are circling the online retailer with sales documents sent to firms including CVC and Carlyle, according to the Daily Mail.

READ MORE: Missguided founder steps down and jobs lost as fast fashion firm explores ‘strategic options’

Last year, investor specialist Alteri stepped in to rescue Missguided after it was hit by supply chain issues and a difficult post-pandemic trading period. Alteri invested £53 million for a 50% stake in the business.

The brand is now being guided through this phase by a new senior team, headed by chairman Ian Gray and chief digital officer Rafaele Petruzzo, who was formerly CDO at Arcadia group.

Online retailers performed well during the peak of the pandemic, as high street stores closed their doors. However, the reopening of stores is understood to have impacted sales at Missguided.

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