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.
Read more on manchestereveningnews.co.uk
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