JD Sports has purchased Liam Gallagher’s clothing brand Pretty Green after financial difficulties led to the company being placed into administration.
The menswear business filed a notice of intention to appoint Moorfields Advisory to handle an insolvency process who, in turn, found JD Sports as the buyer.
The mod inspired brand, which is named after a song by The Jam, is believed to have taken a major financial hit due to the previously revealed administration of House of Fraser. “Pretty Green is not immune to the challenges facing the UK high street as customers migrate from purchasing in store to online,” a spokesperson said at the time of that issue.
It has been confirmed that JD Sports intends to keep the Manchester shop open but 11 other shops are at risk. Furthermore, the 33 concessions in House of Fraser are likely to close.
Peter Cowgill, executive chairman of JD Sports, said: “We are pleased to have completed the acquisition of the highly regarded Pretty Green brand. We look forward to working with the team on future positive developments.”
Simon Thomas, partner at administrators Moorfields added: “Pretty Green is a popular brand and received a considerable amount of interest. We are confident that JD Sports is the right fit for the business and will help to grow its online and wholesale channels.”
Liam Gallagher addressed the administration with a post on social media, saying: “As long as we’ve got our health eh gotta put things into perspective.”