Following completion, the business will be operated by the administrator under a transitional agreement for a period of approximately 8 weeks. It is then the intention that Missguided will operate as a standalone business within the Group, Frasers Group said in a statement.
Michael Murray, chief executive of Frasers Group, commented: “We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of Frasers Group's platform and our operational excellence. Missguided's digital-first approach to the latest trends in women's fashion will bring additional expertise to the wider Frasers Group.”
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