Missguided has fallen into administration after failing to secure a last-minute buyer - putting over 300 Manchester based jobs at risk.
The fast fashion company was issued a winding-up petition last week by suppliers who are owed millions. It comes after police were called to the retailer's Trafford headquarters after suppliers turned up demanding overdue payments be made.
Insolvency specialists are now seeking to sell the business and assets of the retailer, which employs around 330 staff, the PA News Agency reports. READ MORE:Suitcases 'lost' on Ryanair flight causes family to spend €500 on new clothes Missguided was founded in 2009 by Nitin Passi and grew rapidly amid rising demand for online fashion.
However, the company was hit hard by surging supply costs, wider inflationary pressures and waning consumer confidence in the increasingly competitive market.
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