- Huw Hughes |
Liam Gallagher’s struggling menswear brand Pretty Green has called in advisers to weigh up options for the future of the company.
Founded by the Oasis frontman in 2009, the brand called in Moorfields Advisory on Friday, with a spokesperson saying in a statement that the company was “not immune to the challenges currently facing the UK high street.”
Moorfields Advisory said going forward they would be considering different ways to help the loss-making brand, with a sale of the company not off the table.
“The growing overall demand for the brand, coupled with a strong online customer base, position the company well to navigate these changes and we are therefore considering all options,” the spokesperson added.
Pretty Green took a big hit when House of Fraser fell into administration in August, reportedly owing the brand just over 500 million pounds. In the 16 months to January 2018, turnover jumped at Pretty Green to 38.2 million pounds but pre-tax losses narrowed to 1.5 million pounds following a 5.6 million pound loss the year before.
The news comes just a week after British fashion and accessories brand LK Bennett announced it had fallen into administration.
Photo credit: Pretty Green, Facebook