The brand is said to be looking for new investment
Liam Gallagher has responded to news that his Pretty Green fashion label is expected to go into administration next week.
Speaking about the news on Twitter, Gallagher said: “As long as we’ve got our health eh gotta put things into perspective.” He then closed his tweet, “as you were PG I mean LG x”.
Responding to rumours that Mike Ashley could be a potential new investor for Pretty Green, Gallagher replied “Fuck him” to one fan on Twitter.
Yesterday, Sky News reported that the menswear label has filed a notice of intention to appoint Moorfields Advisory to take care of an insolvency process. Sources told the website the notice had been put in place to give Pretty Green a period of time to secure new investment. The notice will expire next week.
There is said to have been interest from potential bidders since the financial and business consultant began assisting the fashion company with future plans earlier this month. If a buyer should be found then a deal would be agreed after administrators had been appointed.
Moorfields are believed to have told those interested that the business and its assets would not be sold solvently, making Gallagher’s shares in the brand effectively worthless.
In a statement released earlier this month, a spokesperson for Moorfields said: “Pretty Green is not immune to the challenges facing the UK high street as customers migrate from purchasing in-store to online. The growing overall demand for the brand, coupled with a strong online customer base, position the company well to navigate these changes and we are therefore considering all options.”
Neither they, Pretty Green, or Gallagher have commented on the new reports at the time of writing.
Meanwhile, Gallagher’s son Gene looks set to feature on his dad’s new album after the star tweeted a picture of the 17-year-old in the studio earlier this week (March 20).