UK online fashion retailer Missguided falls into administration

LONDON (Reuters) – British women’s online fashion brand Missguided has fallen into administration, a form of protection from creditors, with Teneo Financial Advisory appointed as joint administrators.

Teneo said Missguided will continue to trade whilst a buyer of the business is sought.

“As we continue to see, the retail trading environment in the UK remains extremely challenging,” said Teneo’s Gavin Maher.

“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.”

(Reporting by James Davey, Editing by Alistair Smout)