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UK Online Fashion Retailer Missguided Falls into Administration

A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
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UK Online Fashion Retailer Missguided Falls into Administration

A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (Reuters)
A person holding an umbrella walks underneath rows of Union Jack flags hanging across Regent Street in London, Britain, May 30, 2022. (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."

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EU Hits Pierre Cardin and Licensee with $6 Mln Antitrust Fine

Flags of the European Union (EU) and Ukraine fly together with flags of EU member states outside the European Parliament in Strasbourg, France November 26, 2024. REUTERS/Yves Herman
Flags of the European Union (EU) and Ukraine fly together with flags of EU member states outside the European Parliament in Strasbourg, France November 26, 2024. REUTERS/Yves Herman
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EU Hits Pierre Cardin and Licensee with $6 Mln Antitrust Fine

Flags of the European Union (EU) and Ukraine fly together with flags of EU member states outside the European Parliament in Strasbourg, France November 26, 2024. REUTERS/Yves Herman
Flags of the European Union (EU) and Ukraine fly together with flags of EU member states outside the European Parliament in Strasbourg, France November 26, 2024. REUTERS/Yves Herman

The EU Commission on Thursday said it had handed a total fine of 5.7 million euros ($6 million) to French fashion house Pierre Cardin and German clothing maker Ahlers for breaching EU antitrust rules.
The commission said the companies between 2008 and 2011 had anticompetitive agreements to shield Ahlers from competition in European countries where it held a Pierre Cardin license.
The move by the European Commission, which acts as the EU competition enforcer, followed dawn raids on Pierre Cardin in 2021 and charges imposed against the company last year.
"These illegal practices prevent retailers from being able to freely source products in member states with lower prices and artificially partition the internal market," the commission said.
Pierre Cardin was fined for 2.2 million euros, while Ahlers has to pay 3.5 million euros.
The fine confirmed an earlier report by Reuters.