// Missguided’s multimillionaire owner scrambles to save the retailer from supply chain pressures
// Sources report that Passi is seeking £50 million in emergency funding from outside investors
Missguided has drafted in restructuring experts to secure emergency funds as the supply chain crisis batters the fast fashion retailer.
Missguided founder Nitin Passi is thought to be in talks with City crisis experts from AlixPartners to look at dramatic restructuring options, according to reports in the Sunday Telegraph and Sunday Times.
Sources also told the Telegraph that Passi was seeking £50 million in emergency funding from outside investors.
READ MORE: Missguided poaches Holland & Barrett chief digital officer
The retailer has been hit with the perfect storm of surging shipping costs and labour shortages.
AlixPartners is just one of a range of parties to be involved in talks with the retailer and has not been formally appointed.
Despite the breakdown of those talks, Missguided could still be sold to a fashion rival with the likes of Asos and and Shein touted as potential buyers.
The retailer has struggled as its larger wholesale customers have been taking longer to pay, according to industry sources.
This year, approximately £4 billion has been wiped off the total value of online fashion giants Boohoo and Asos following warnings that supply chain disruption will persist beyond Christmas and into 2022.
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