Liam Gallagher’s Pretty Green drafts in advisers

Pretty Green
// Pretty Green calls in advisers to figure out options for the future of the business
// The Liam Gallagher-owned retailer was left £500,000 out of pocket from House of Fraser’s admistration
// Advisers from Moorfields also cited weak trading environment

Pretty Green has called in advisers as it becomes the latest business to show signs of struggle amid the challenges that continue to plague the UK retail industry.

The fashion retailer and label, owned by Oasis frontman Liam Gallagher, appointed Moorfields Advisory on Friday afternoon to review a range of options for the future of the business.

Pretty Green’s turnover jumped to £38.2 million in the 16 months to January 2018, and its pre-tax losses narrowed to £1.5 million from a £5.6 million loss.

However, the retailer is believed to have taken a hit from House of Fraser’s administration in August.

It was reportedly left around £500,000 out of pocket from the department store’s administration, becoming one of hundreds of suppliers to lose money.

Moorfields added that Pretty Green 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.”

Pretty Green trades from 12 stores across the UK and is sold at concessions in several House of Fraser department stores, as well as online.

Gallagher is its largest shareholder.

Click here to sign up to Retail Gazette‘s free daily email newsletter


Please enter your comment!
Please enter your name here