Missguided Ltd To Be Sold To Frasers Group

Frasers Group plc (FRAS.L ZVX.F) on Wednesday said it has acquired certain intellectual property of the online fashion retailer, Missguided Limited, Mennace Limited and Missguided (IP) Limited for 20 million pounds in cash.

Upon closing the deal, the business will be operated by the administrator for about eight weeks. Following this, Missguided will function as a stand alone business within the group, Frasers said.

Missguided had appointed administrators to look for buyers as suppliers had complained to shut down the business following the company's failure to pay off debts.

"Missguided's digital-first approach to the latest trends in women's fashion will bring additional expertise to the wider Frasers Group," said Michael Murray, Chief Executive of Frasers Group.

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