Fashion retailer Missguided has launched a 45-day consultation period with 140 jobs at risk as it looks to restructure the business after being hit by a number of factors, including supply chain disruption.
It said that supply chain disruption, inflation and falling customer demand had hit the fashion industry hard and that it wasn’t “immune to the challenges”.
It began a review of its structure, with the aid of external consultants, at the end of 2021. The retailer, which employs 400 staff in Manchester, sold a 50% stake in its business to Alteri Investors last year.
In a statement on the news, Missguided said the business review concluded a need to align costs to better match its current performance. Staff were briefed and the consultation period began last month on the proposed restructure, meaning that if the proposals are agreed then the job losses will happen in the coming weeks, the company confirmed.Image credits: