Missguided collapsed on Monday owing millions to suppliers, laying off 87 staff employees and the Founder & CEO, Nitin Passi stepping down. The fast-fashion e-retailer that focuses on a digital first approach, was seeing the highest numbers in sales during the pandemic.

However, sales decline rapidly once physical stores reopened and in the last few weeks had not been able to pay suppliers and customers complaining they aren’t receiving orders. Nadeem Arshad, the owner of Manchester-based fashion supplier Moku, said his business was “on the brink of collapse” as it was owed almost £500,000 for recent orders and was “now seeking legal advice and joining forces with other suppliers who find themselves in this catastrophic position”. said to The Guardian.

In addition to a shift from customers buying online to offline, fast fashion company’s are battling China’s SHEIN who has become top online retailer for fast fashion.

Today, the company…