Time out for Pretty Green fashion brand
Pretty Green, the fashion brand founded by former Oasis frontman Liam Gallagher, has been placed into administration, putting 180 jobs at risk
2 Apr 2019
Simon Thomas and Nicholas O’Reilly of Moorfields Advisory have been appointed joint administrators of the menswear retailer, which was set up in in 2009.
Pretty Green has 12 stores across the UK, around 40 concessions and a wholesale business. It made a turnover of £28m in the year to January 31, with EBITDA profit of £176,000, but is believed to have lost £500,000 following the collapse of House of Fraser.
Gallagher is its largest shareholder and the company is backed by private equity firm Rockpool Investments.
A spokesperson for Moorfields Advisory said: ‘Pretty Green is not immune to the challenges facing the UK high street as customers migrate from purchasing in store to online.’
Pretty Green said all stores and concessions will continue trading until further notice.
Report by Pat Sweet