Several retailers are considering takeover bids for Missguided after the etailer admitted it was exploring “strategic options” for its future.
JD Sports, Mike Ashley’s Frasers Group and fast-fashion rivals Asos and Shein are all interested in a potential deal, according to the Daily Mail. The Issa brothers, Asda’s billionaire owners, are also said to be pondering a swoop.
The reported interest comes just weeks after Retail Week revealed that Missguided founder and chief executive Nitin Passi was stepping down after the business drafted in advisers from Teneo to explore strategic options.
Missguided said it was looking to find a new “strategic partner” with the infrastructure and operational know-how to take it forward.
Sales documents have also been sent to private equity firms, including CVC and Carlyle, as Missguided sounds out potential bidders.
The online fashion player only secured a rescue deal from Alteri last December. Alteri paid £53m for a 50% stake in the embattled retailer and took on its debt.
Alteri could hand over more cash this month to keep it afloat.
An Alteri spokesperson told the Daily Telegraph: “Missguided has appointed Teneo to manage a sales process, which has already attracted interest from several potential buyers.
“Alteri continues to support the business financially and operationally.”
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