Administrators appointed at Liam Gallagher's Pretty Green

Having lined up Moorfields Advisory as potential administrators a week ago, Pretty Green has made the appointment official. Simon Thomas and Nicholas O'Reilly, partners in the practice, have been appointed as joint administrators.

The business, which operates 12 stores in the UK and a number of concessions in House of Fraser, will continue trading until further notice and a number of potential buyers have been circling the brand.

Pretty Green employs around 180 staff and sells to around 100 wholesale accounts and had achieved strong momentum in it ten years of trading but it took a hit to the tune of £500,000 when House of Fraser collapsed last summer.

The brand was established by Gallagher a decade ago and he is believed to be its largest single shareholder. In 2017 the business sold a £11m minority stake to an investment firm called Rockpool Investments.

Latest filed accounts show sales of £38.2m in the 16 months to January 2018 and Moorfields, which was first appointed as advisers at the start of the month, is understood to be telling potential buyers that sales were £28m in the 12 months to January 2019.

Read our profile of Pretty Green, including key data points and a news archive, in our new master database of fashion The Intelligence.