Liam Gallagher's Pretty Green lines up administrators
Pretty Green, the menswear brand founded by former Oasis frontman Liam Gallagher, is lining up administrators.
The ten-year-old business, has filed a notice of intention to appoint Moorfields Advisory to handle an insolvency process, Sky News reports.
Earlier this month, Pretty Green, appointed Moorfields to advise on future strategic options months after it took a £500,000 hit from the collapse of House of Fraser.
The business operates 12 stores throughout the UK and 40 concessions with around 100 wholesale accounts. It employs around 180 people.
According to Sky potential bidders for the business are being told that it has sales of £28m and had made a profit of £176,000 in the year to the end of January. It is not expected to be sold solvently.
Liam Gallagher
It is not known whether Gallagher might table a bid for the company once it enters administration and its presence in House of Fraser will no doubt pique the interest of that business's owner and serial deal-maker Mike Ashley of Sports Direct.
It is possible the business may find new investment before the administrator is officially appointed, which would be some time next week.
