Administrators Teneo say Missguided will continue to trade while they seek to complete a sale of the business and assets.
Online fashion retailer Missguided has called in administrators after failing to secure a rescue bid.
Administrators from Teneo were appointed on Monday after the company was issued with a winding-up petition by clothing suppliers who are owed millions of pounds. Teneo's Gavin Maher said:"As we continue to see, the retail trading environment in the UK remains extremely challenging. "The joint administrators will now seek to conclude a sale of the business and assets, for which there continues to be a high level of interest from a number of strategic buyers."
About 140 jobs are thought to be at risk, with The Guardian citing a source as saying more than 80 people had immediately been made redundant.Boohoo, a larger online fashion retailer, had been in talks to buy Missguided in a prepack administration deal.
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