A mum has thanked two women who helped her daughter after she was left struggling to breathe in Ramsbottom .
14.06.2022 - 18:47 / manchestereveningnews.co.uk
Nitin Passi, the founder of fast fashion company Missguided which was recently acquired by Frasers Group after collapsing into administration, has returned as its chief executive.
Mr Passi stepped down from the role in April as the Manchester business announced it was to cut 63 jobs. At the same time, Missguided announced it had appointed Teneo "to explore strategic options for the business".
That move led to the company entering administration and then being bought by Frasers Group, which also owns the likes of Sports Direct and House of Fraser. Missguided was founded by Mr Passi in 2009 and sold a 50% stake to Alteri Investors towards the end of 2021.
READ MORE: Missguided: The fascinating rise and fall of the online fast fashion brand
Mr Passi said: "Frasers Group has an unrivalled platform and fantastic operational know-how, giving Missguided a solid foundation on which we can build a successful future. I am acutely aware of the impact Missguided’s administration has had on our stakeholders and I am committed to rebuilding their trust."
Frasers Group chief executive Michael Murray added: "Missguided is a fantastic brand which, with the strength and scale of Frasers’ platform and our operational excellence, is well-positioned for the future. Under Frasers' ownership, and with Nitin’s partnership, Missguided has an exciting future ahead."
In a statement issued when he first stepped down as CEO, Mr Passi described his "pride" in building the fashion retailer from nothing as he revealed his "great sadness" at departing the role.
Writing on LinkedIn, Mr Passi said: "When I set up Missguided back in 2009 with a small loan from my family, I had no idea about how impactful the brand would become. In a little over 13
A mum has thanked two women who helped her daughter after she was left struggling to breathe in Ramsbottom .
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