Missguided Collapses Owing Millions, Suppliers Blame Reckless Owner

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 sold to Frasers Group, the shopping empire founded by Mike Ashley that owns House of Fraser and Sports Direct, to clean up the mess and properly manage Missguided…