Missguided fashion retailer appoints administrator

Fashion brand Missguided has appointed administrators after being issued with a winding-up petition by creditors.

The retailer with about 330 staff has asked Teneo Financial Advisory to sell its business and assets.

The company will continue to trade while it looks for a buyer, Teneo said.

It cited some of the challenges Missguided faced as increased supply chain costs, general cost inflation and softening consumer confidence in an increasingly competitive market.

Gavin Maher from Teneo said there was "a high level of interest from a number of strategic buyers".

He thanked Missguided staff and other key stakeholders for their "support at this difficult time".