Five brands are said to be circling Missguided

Five businesses, including Asos, Chinese retailer Shein, JD Sports, Mike Ashley's Frasers Group and the owners of Asda are said to be circling fast-fashion brand Missguided.

The Manchester-headquartered Missguided hired advisory firm Teneo in late April to consult on strategic options for the business, as its founder Nitin Passi announced his intention to steps down from his role as Chief Executive.

In December 2021 Alteri Investors took a 50% stake in Missguided, providing it with a cash injection and support to get it back on track to "sustainable profitability".

The Daily Mail reported that private equity giants were circling the company, while Alteri Investors told the Daily Telegraph that Missguided's appointment of Teneo had "already attracted interest from several potential buyers."

It added that "Alteri continues to support the business financially and operationally."

Missguided has recently said that it had made "significant progress" in addressing stock issues, streamlining warehouse operations and reducing head office costs. This followed its announcement in early March that around 140 jobs were at risk as it launched a "comprehensive restructure of the business". The company said that it had been facing increasing costs from supply chain disruption, inflation and a drop in customer demand over the past 18 months and that it was looking to find a strategic partner with the infrastructure and platform to maximise the business' potential.