×
2 819
Fashion Jobs
VF INTERNATIONAL
Credit Controller - Italian Speaking
Permanent · CALVERTON
VF INTERNATIONAL
Credit Controller
Permanent · CALVERTON
BOOHOO GROUP
Site Operations Manager
Permanent · BURNLEY
SHISEIDO
Shiseido Assistant Business Manager - Harrods (37.5 Hours)
Permanent · London
BOOHOO GROUP
Senior Site Operations Manager
Permanent · BURNLEY
HARRODS
Food Supply Coordinator
Permanent · LONDON
HEAD OFFICE
Social Marketing Manager
Permanent · LONDON
HEAD OFFICE
Service Operations Manager
Permanent · BRACKNELL
HEAD OFFICE
Social Marketing Performance Manager
Permanent · LONDON
DR. MARTENS
Logistics Finance Manager
Permanent · LONDON
MULBERRY
Junior Product Manager
Permanent · LONDON
MULBERRY
Warehouse Operative
Permanent · SHEPTON MALLET
HARRODS
Aftercare Consultant
Permanent · LONDON
SELFRIDGES
Lead Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
SELFRIDGES
Senior Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 22.5 Hours/Week - Part Time, Permanent
Permanent · Londres
BOOHOO GROUP
Warehouse Operative - Any 5 in 7, 06:00 - 14:00
Permanent · CRICK
BOOHOO GROUP
Warehouse Operative - Boohoo Group (Pretty Little Thing)
Permanent · SHEFFIELD
AESOP
Retail Consultant | Full Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Part Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Full Time | Aesop Richmond, London
Permanent · Richmond
AESOP
Retail Consultant | Part Time | Aesop Richmond, London
Permanent · Richmond
Published
Mar 3, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

'Jobs at risk' at Missguided as raft of issues hit firm

Published
Mar 3, 2022

Problems are mounting for UK fashion retailer Missguided. The troubled Manchester-based brand has admitted around 140 jobs are at risk following supply chain disruptions, inflation and, worryingly, a drop in customer demand.


Missguided


The company said it has launched a 45-day consultation period as part of a "comprehensive restructure of the business”.

A Missguided statement, seen by BusinessLive, said: “The fashion industry has had a tough 18 months with increased costs arising from supply chain disruption, cost inflation and weakened customer demand arising from the pandemic.

“Missguided has not been immune to those challenges and at the end of 2021, with the help of external consultants, began a review of its structure in the light of market conditions.”

It added: “Missguided is acutely aware of the disruption this will cause to its colleagues. It’s committed to offering support to its people, as it implements the proposed restructure as quickly as possible to provide certainty to its colleagues.”

It had hoped a rescue deal secured with turnaround specialist Alteri Investors would ease its immediate problems. Missguided sold a 50% stake to Alteri, backed by US private equity giant Apollo, towards the end of 2021, but its problems continue, resulting in the latest statement.

Missguided was founded in 2009 as an online-only retailer and fashion brand by CEO Nitin Passi. Currently, it serves “over four million active, 18–30-year-old customers in over 180 countries globally”. Although its ambitious opening of flagships in key malls such as Westfield and Bluewater proved a failure, as well as its webstore it now also has physical locations in a large number of Asda stores.

In the year to March 2021 it achieved sales of £287 million, with the UK and US being its two largest markets. But profitability has been a problem, it recording a pre-tax loss of £8.2m in March 2020. 

The company is due to file its next set of accounts by the end of this month.

Copyright © 2022 FashionNetwork.com All rights reserved.