Missguided checks out - interview with Alex Jay, Partner and Head of Insolvency and Asset Recovery at Stewarts

In this episode, Stephanie Anais is joined by Alex Jay, Partner and Head of Insolvency and Asset Recovery at Stewarts, litigation specialists, ‘a law firm like no other’.

During the episode, Alex and Stephanie discuss the collapse of the online fast fashion retailer, Missguided, from an insolvency point of view, and talk about the commercial challenges that the company faced in the lead up to its fall into administration.

Overview of episode – 01:50

Overview of Stewarts and Alex’s role in the firm and his insolvency and asset recovery practice – 02:40

Missguided: its commercial challenges, legal difficulties, and the directors duties – 04:40

Could the collapse have been mitigated? The importance of knowing your client (“KYC”) and commercial awareness – 16:47

Government schemes which aid distressed companies – the Covid-19 rent moratorium and employee furlough – 18:15

The Frasers Group buys Missguided out of administration via a pre pack administration deal (pre pack explained!) – 23:35

Legal action and claims made by Missguided’s suppliers, unsecured claims and wrongful trading explained! – 28:50

Pursuing wrongful trading claims – is it worth it? – 36:00

Order of priority of creditors in administration – 40:30

Is it lawful to be sacked via automated telephone message? – 43:55

Key takeaways that online retailers should consider – 45:22

Alex’s words of wisdom – 46:30

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Hosted by Stephanie Anais, Produced by Nathan Gore