Liam Gallagher’s clothing brand Pretty Green has called in administrators, putting the future of the business at risk.
The fashion chain operates 12 stores across the country, including a branch on Newcastle’s Grainger Street, along with 22 concessions within House of Fraser stores.
A notice placed in the window of Pretty Green’s Manchester store announced that the company had entered administration.
The sign read: “On 28 March 2019, Simon Thomas and Nicholas O’Reilly, partners in Moorfields Advisory Limited, were appointed as joint administrators of Pretty Green Limited. At the same time, Simon Thomas and Nicholas O’Reilly have also been appointed as joint administrators of Pretty Green Group Limited.”
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The notice added that Pretty Green’s stores and concessions would continue to remain open until further notice.
The retailer was founded by the Oasis singer in 2009, who named the business after a song by The Jam. Mr Gallagher continues to be the company’s biggest shareholder.
But the chain’s heavy reliance on House of Fraser stores led to it taking a £500,000 hit from the department store’s collapse last year.
Earlier this month Moorfields issued a statement warning that Pretty Green was continuing to suffer from tough high street conditions.
At the time a spokeswoman said: “Pretty Green is not immune to the challenges facing the UK high street as customers migrate from purchasing in store to online.
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“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 company’s turnover jumped to £38.2m in the 16 months to January 2018. Pre-tax losses narrowed to £1.5m from £5.6m a year earlier.
