Mike Ashley’s Frasers Group has acquired the Missguided fashion retailer out of administration in a £20 million deal.
It has also purchased the company’s menswear brand, Mennace.
Until the acquisition is completed, the business will be operated by the administrator under a transitional agreement for around eight weeks. In a statement, Frasers said Missguided will then operate as a standalone business within its group.
Missguided called in administrators earlier this week after failing to secure a last minute buyer.
