Boohoo emerges as front-runner to buy Missguided in pre-pack deal

// Boohoo is reported to have entered exclusive talks to buy rival Missguided

// It is understood that Boohoo is eyeing a pre-pack deal

Boohoo is plotting a pre-pack rescue deal to buy rival Missguided, which is teetering on the brink of administration.

Boohoo has entered exclusive talks with Teneo, which is advising Missguided, and a deal to buy the fashion retailer could be imminent, according to The Times.

The newspaper’s sources said that the deal has not been finalised and it was unclear whether Boohoo was interested in buying the Missguided brand or the whole business. Both Boohoo and Teneo declined to comment.

Missguided was served with a winding-up order last week by one of its suppliers. Police were also called to its head office in Manchester after suppliers accused the firm of leaving them millions of pounds out of pocket.

A spokesperson for Missguided said: “Missguided is aware of the action being taken by certain creditors of the company in recent days, and is working urgently to address this.

“A process to identify a buyer with the required resources and platform for the business commenced in April and we expect to provide an update on progress of that process in the near future.”

Missguided appointed Teneo to advise on its strategic options last month as founder Nitin Passi revealed he would step down from the business he founded in 2009.

Passi’s departure comes just months after Alteri Investors, which specialises in distressed retailers, took a 50% stake in the fast fashion business.

It is understood that firms including JD Sports, Shein, Frasers Group and Asda have been mulling making an offer for Missguided.

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Boohoo emerges as front-runner to buy Missguided in pre-pack deal appeared first on Retail Gazette.

from Retail Gazette https://ift.tt/vwzJ6UP
via IFTTT

Comments

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...

Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

Search This Blog