Page 34 - Londra Gazete Sayı 1108

Londra Gazete, 02 June 2022 LondraGazete.com/English 7

Frasers Group buys fashion

retailer after collapse

SPORTS Direct owner Frasers
Group has bought Missguided for
£20m, after the online fashion
retailer collapsed into adminis-
tration.
Chief executive Michael Murray
Brits face said the group, which also owns

another half-term travel chaos House of Fraser, was "delighted
to secure a long-term future" for
the fast fashion company.
BRITONS face more cancelled off once the four-day bank holiday
The firm, which has around 330
flights and holiday chaos this week period begins on Thursday. More staff, appointed administrators
as millions embark on half-term than 10,000 flights are scheduled
getaways or trips to coincide with to depart between Thursday and on Monday.
the platinum jubilee weekend. Sunday, according to aviation data It has suffered from supply
EasyJet has axed another 30 firm Cirium. chain problems, rising freight
flights at Gatwick on Tuesday, fol- Meanwhile the RAC estimat- costs and increasing competition
lowing British Airways and Tui in ed that 19.5 million leisure trips from rivals. ness" within the group. the finance firm Alteri Investors,
cutting schedules amid staff short- by road will take place between Suppliers had accused the busi- Mr Murray said: "Missguided's with Mr Passi stepping down as
ages that have caused major dis- Wednesday and Sunday, leading to ness of leaving millions of pounds digital-first approach to the lat- chief executive in April.
ruption. fears of road chaos. of debts unpaid. est trends in women's fashion Missguided customers have
Passengers reported four-hour The aviation industry is suffering Frasers Group confirmed it had will bring additional expertise to been tweeting the company to
queues at Manchester Airport on from staff shortages after letting bought the intellectual property the wider Frasers Group." complain that orders have not ar-
Monday, while at Bristol they were thousands of people go during the of Missguided and its sister brand The Manchester-based busi- rived, returns not processed and
forced to wait outside in a long line coronavirus pandemic. Mennace, which it said would be ness was founded by Nitin Passi refunds not received.
which reached a car park. There Airlines and airports repeatedly operated by administrators for a in 2009 and grew to become one New owners Frasers Group
were similar scenes at Heathrow called for more financial support transition period of around eight of the UK's biggest online fashion said fulfilment of orders was the
and Birmingham. during the Covid-19 crisis as Gov- weeks. players. But in the last few years responsibility of administrator
The situation could worsen in the ernment travel restrictions sup- It said it then intended to run it has struggled to make a profit. Teneo. The BBC has approached
coming days with people jetting pressed demand. Missguided as a "standalone busi- Last autumn it was rescued by Tenoe for a comment.