Liam Gallagher’s clothing brand calls in advisers amid high street crisis
Liam Gallagher’s clothing brand Pretty Green has called in advisers as it struggles with the challenges facing the UK’s high street.
The clothing label has appointed Moorfields Advisory to review a range of options, just months after it took a hit from the collapse of House of Fraser.
Pretty Green has 12 stores across the UK and is sold at concessions in several House of Fraser department stores, as well as online.
Singer Gallagher is its largest shareholder.
In August it was left around £500,000 out of pocket from the administration of House of Fraser, becoming one of hundreds of suppliers to lose money in the chain’s collapse.
The retailer had debts of close to £1 billion when it went under.
Advisers from Moorfields said in a statement that Pretty Green, which is named after a song by The Jam, had also been affected by the weaker retail environment.
“Pretty Green is not immune to the challenges facing the UK high street as customers migrate from purchasing in store to online,” a spokeswoman said.
“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 £38.2 million in the 16 months to January 2018.
Pre-tax losses narrowed to £1.5 million from a £5.6 million loss.