Fri, 01 Aug 2025 | ADMINISTRATION
The assets and brand of a prominent fast fashion womenswear retailer are up for sale after the company fell into administration. Manchester-based Missy Empire generated revenue of more than £12 million in its most recent accounts.
The company was co-founded by brothers Ash and Ish Siddique in 2015 and had seen rapid growth, being acquired by JD Sports in 2021. The following year, the business was part of a deal in which Mike Ashley's Frasers Group acquired JD Sports’ interest in a number of brands, including Missy Empire, for up to £47.6 million.
In the 15-month period ending April 30 2023, Uggbugg Fashion Limited, which trades as Missy Empire, reported turnover of close to £12.5 million, up from around £8 million in its previous accounts. However, post-tax losses widened from £320,000 to £338,000.
The company’s problems were exacerbated in 2024, when former members of staff alleged that they had been subject to a toxic culture while working at the business, including claims of bully, degrading comments, being fired without reason and having formal complaints ignored by owners.
KR8 Advisory Limited Managing Director Jimmy Saunders and Associate Managing Director Mark Blackman were appointed as joint administrators of the company on July 28 2025. The joint administrators have now begun the process of looking for a buyer for the business' brand and assets. Saunders stated that the company's operations have been suspended pending a sale.
In the company’s most recent accounts, its fixed assets were valued at £447,000 and current assets at £2.7 million, with total equity amounting to slightly under £2 million. However, this was down from £2.3 million in its previous accounts.
Find out more about rising distress in the fashion and retail sectors and how this can generate valuable M&A opportunities:
Distressed retail M&A: Opportunistic or strategic?
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