Missguided mulls HQ job losses after rescue deal
Fast fashion retailer Missguided has made a move to slash “a number of roles” at its head office in Manchester.
The beleaguered firm had secured a rescue deal at the end of last year, with Alteri Investors snapping up a 50 per cent stake in the firm and acquiring its debt.
Missguided then began a review of its business structure, which concluded it needed to “align its costs to better match its current performance”.
Staff were brief on a proposed restructure last month with a 45-day consultation launched.
The company said it had been hit hard in the past year and a half due to increased costs arising from supply chain disruption, cost inflation and weakened customer demand amid the Covid pandemic.
A spokesperson for Missguided said: “Missguided has not been immune to those challenges and at the end of 2021, with the help of external consultants, began a review of its structure in the light of market conditions.”
“Missguided is acutely aware of the disruption this will cause to its colleagues. It’s committed to offering support to its people, as it implements the proposed restructure as quickly as possible to provide certainty to its colleagues.”