Etailer Misspap, registered as House of MP, is planning to place itself into creditors’ voluntary liquidation, Drapers can reveal.
The fast fashion business plans to appoint Peter John Harold as liquidator after a resolution to wind up the company was passed by shareholders, a document seen by Drapers shows.
A virtual meeting of creditors is to take place on 18 March.
The document shows that trade and expense creditors are owed more than £1m. Employees are owed £10,000, refunds owed to customers comprise £300,000 and HMRC is owed more than £950,000.
Misspap was launched in Burscough, West Lancashire in 2014 by founder Ashley Ali.
Drapers has ed Misspap for comment.