Mike Ashley’s Frasers Group buys Missguided out of administration in £20m deal

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Frasers Group, the procuring empire based by Mike Ashley that owns Home of Fraser and Sports activities Direct, has swooped in to save lots of Missguided from collapse.

The corporate has acquired the embattled on-line retailer for £20m.

Frasers Group purchased the entire associated mental property of the ladies’s vogue model after Missguided appointed Teneo on Monday to guide it by means of administration.

Its clothes suppliers are nonetheless owed tens of millions of kilos.

Michael Murray, the boss of Frasers Group and son-in-law of Mr Ashley, mentioned: “We’re delighted to safe a long-term future for Missguided, which is able to profit from the power and scale of FG’s platform and our operational excellence.”

He added: “Missguided’s digital-first strategy to the newest developments in girls’s vogue will deliver extra experience to the broader Frasers Group.”

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