New name for Missguided after fast fashion giant was rescued by Sports Direct owner

Manchester-based fashion brand Missguided has a new name following its rescue by the owner of Sports Direct. According to official documents submitted to Companies House, the business will now be known as MGL Realisations (2022) Limited.

However, Missguided will still trade under its original name.

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The move has come after the company was rescued by Frasers Group in a £20m deal at the start of last month. Founder Nitin Passi also recently returned to Missguided as its chief executive.

Mr Passi had previously left his position in April as the 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 entered 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.