// Missguided warns 140 jobs are at risk
// The fashion retailer has launched a 45-day consultation period
Missguided has warned that 140 jobs remain at risk following supply chain disruptions, inflation and a decline in customer demand.
The fashion retailer said it has begun a 45-day consultation period as part of a “comprehensive restructure of the business”.
It had hoped a rescue deal secured with turnaround specialist Alteri Investors would ease its problems.
Missguided sold a 50% stake to Alteri, backed by US private equity giant Apollo, towards the end of 2021.
“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 said.
“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.
“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.”
In the year to March 2021 it achieved sales of £287 million, with the UK and US being its two largest markets.