ICSM BUSINESS INSOLVENCY NEWS: customers and creditors lose out as Teneo refuses to pay refunds or settle debts following collapse of Missguided

By Harry Mottram: It’s gone from bad to worse for customers of Missguided after it emerged the group running the defunct company will not be returning cash already paid to the online retailer. Public relations and advisory company Teneo have taken on the task of running the collapsed online retailer until the Fraser Group take possession of the business.

And for the suppliers the situation is equally bleak with some businesses hundreds of thousands of pounds out of pocket for providing clothing and accessories to the Manchester based online fashion firm.

Many shoppers had in good faith returned goods they had ordered but had paid for in advance expecting to be reimbursed by the administrators but were told they would not get refunds.

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For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk