Pretty Green, the clothing line owned by former Oasis frontman Liam Gallagher, is set to appoint administrators amid financial difficulty.
According to reports by Sky News, the menswear business has filed a notice of intention to appoint Moorfields Advisory to handle an insolvency process.
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.
Sources close to the brand have claimed that Moorfields have been searching out for buyers of Pretty Green in recent weeks, operating under the code name ‘Project Sky’.
More detailed claims report that Pretty Green’s turnover has actually increased to £38.2 million in January 2018, That figure, coupled with the rumours that its pre-tax losses had shortened to around £1.5 million from a the previous £5.6 million loss, should see the company popular with bidders.
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.”