The Vampire's Wife settles tax debt to avoid closure

The Vampire's Wife has settled its tax bill with HMRC following the issuing of a Winding Up Petition that was due to be heard in court today.

Founded in 2015 by model Susie Cave, the luxury fashion brand, most famous for its gothic-inspired dresses beloved by countless celebrities, was hit with a Winding Up Petition last month over unpaid tax.

The company claimed that the petition was issued without warning and that its request for a Time To Pay arrangement with the tax authorities had been rejected. Its unpaid debts were said to have been accrued amid challenging trading due to the pandemic when demand for its occasionwear plummeted.

Its tax debts have now been settled with support from the brand's investors, the American music mogul Jimmy Iovine and his wife, the British supermodel and entrepreneur Liberty Ross.

The Vampire's Wife, which is stocked by high-profile retailers including Matches, Liberty, Net-A-Porter and Selfridges, was loss-making during the pandemic but is said to have since bounced back and is now in the black, though exact figures are not known.

Had it not paid its debt, it would have faced potential liquidation by the tax authorities with its due to be heard at court this morning.