Mike Ashley in talks to sell Missguided to fast-fashion giant Shein

Retail tycoon’s Fraser Group bought troubled fashion retailer Missguided last year for a reported £20 million

Mike Ashley, Sports Direct chief and controller of fashion heavyweight Frasers Group. Picture: AFP

Frasers Group, the department store chain owned by retail tycoon Mike Ashley, is reportedly in talks to sell its Missguided brand to Shein, the Chinese fast-fashion giant.

Ashley bought Missguided out of administration last year for a reported £20 million, after the company founded founded in 2009 by Nitin Passi got into financial difficulties.

Sky News reported earlier today that Ashley has been in talks with Shein for several weeks about a possible sale, though ...