It is thought to be one business amongst a “number of parties” that are in talks to take over the brand.
The group’s proposal is reportedly said to involve the acquisition of a controlling interest in Missguided, although Sky said it remained “unclear” on whether founder Nitin Passi was “keen” on a majority stake takeover.
Sources told Sky that discussions between the online retailer and potential investors were “not yet on the brink of a conclusion”, and that “different structures were being evaluated by the fashion site”, with the online retailer reportedly in talks with a “small number” of other prospective investors.
Any deal concluded is expected to involve the “injection of many tens of millions of pounds” into the company, however, according to Sky.
Just last week, it was revealed that JD Sports could be required to sell Footasylum after its merger was recently blocked by the Competition and Markets Authority (CMA) on the grounds that it could lead to a “worse deal” for shoppers.
The CMA’s latest decision to block the merger followed its first attempt in May 2020, to which the retailer appealed to the Competition Appeal Tribunal, which remitted the case back to the CMA for reconsideration.
Having reviewed the case again, the CMA warned that the merger could lead to customers finding themselves facing higher prices, fewer discounts and less choice of products in store.