JD Sports, the renowned British fashion retailer, has also joined the race to take over the ultrafast fashion e-tailer Missguided.
If reports are to be believed JD Sports’ interest in Missguided is still at a very early stage.
Here it is important to state that Missguided had only last week appointed advisers to seek potential buyers.
It’s been tough going lately for Missguided – majorly owing to not-so-good sales that were hit by escalating costs.
Also, founder Nitin Passi’s recent decision to step down as CEO has also added to the worries of the e-tailer.
Also Read: British e-tailer Missguided CEO quits; to axe 63 jobs
Teneo, financial consultancy firm, has been appointed to explore strategic options for the business, besides seeking out possible buyers.
Apart from JD Sports, Boohoo, close rival of Missguided, also seems to be in the race to buy the e-tailer.
Founded in 1981, JD Sports has stores across the UK, Europe, the US, Asia, New Zealand and Australia. It generated £6,110.8 million in 2020.
