Tue, 19 Nov 2013 | ADMINISTRATION
Lily Allen's fashion business, Lucy in Disguise LLP, has entered administration after struggling with debts.
The business had a winding-up order brought against it by Aurora Fashions, the parent company of brands including Coast and Oasis, earlier this year. The petition came about as a result of debts of around £100,000.
Richard Glanville, Aurora's chief financial officer, said that the group was forced to take action over the extent of the debts, which have been reduced but still not paid off in full. Mr Glanville told the Mail on Sunday: “It has been a very drawn-out affair and we gave them every opportunity to pay the money back before applying to put it into administration.”
He added that the £12,000 that is still owed is “quite a small sum” but the supplier was forced to take action to put the business into administration because they “can't get hold of anyone to settle the debt”.
Lucy in Disguise built up a name on the back of its celebrity founder Lily Allen. Allen founded the business with her sister, Sarah Owen. However, a spokesperson for the singer said that Allen is no longer involved in the shop and hasn't been since 2011. Indeed, the company has a new ownership that does not include Lily Allen.
____________________________________________________________________________
Related information:
View the latest businesses in administration
Find distressed business opportunities at the right time
Find out more about winding-up petitions
Represents an opportunity for a hospitality acquirer seeking a restaurant with additional takeaway in Harrow.
LEASEHOLD
Wedding venue business with accommodation and large restaurant for sale in Cambridgeshire. With a capacity for up to 110 wedding guests, the16th Century traditional building boasts original features, open fireplaces, exposed beams and elegant interio...
LEASEHOLD
Restaurant for sale in Hartley Wintney, Hampshire. Offering a 3-bed flat, a large car park, and a detached property.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.