HE’S one of the UK’s most prolific singer-songwriters, who shot to fame as the frontman of Oasis.
But now his latest business venture looks set to hit the Wonderwall.
For Liam Gallagher and his fashion label Pretty Green seem to have struck the wrong chord financially, as they face the prospect of entering administration.
The financial fragility of the menswear retailer comes amid reports it is struggling with debts running into several million pounds after going from Pretty Green … to into the red.
Celebrity investors such as England and Chelsea football star Joe Cole; Prodigy rock star Liam Howlett; and former Stoke City striker Dave Kitson are among those reporters to be at financial risk from any administration process.
Before these insolvency fears, the brand had been developing various clothing ranges which pay homage to Liverpool band the Beatles and guitarist Jimi Hendrix.
The threat of insolvency also casts a question mark over the jobs of 180 people employed by the firm.
Gallagher, who was married to Patsy Kensit (a familiar face in Leeds when she starred in Yorkshire Television’s hit soap Emmerdale), launched the brand back in 2019 amid a rock n roll fanfare.
But insolvency experts have been called in to explore business restructuring and business recovery options for the label – including attracting new investment.
As well as having an online sales presence, Pretty Green can be found in several High Street stores in Yorkshire and the North East – including in House of Fraser shops in Leeds, Meadowhall Sheffield, Grimsby, Darlington and Newcastle.
It also has its own shop at the Victoria Quarter in Leeds city centre. The VisitLeeds website even hails the Leeds store as one of the city’s top shopping attractions – “Pretty Green is a straight talking label dedicated to sharp and stylish dressing” it writes.
For Gallagher himself, who has been an unlikely supporter of Leeds United this year and kicked off his latest UK tour at the First Direct Arena in Leeds, his future retail connection with Leeds is now uncertain.
Insolvency and business recovery experts warned that Pretty Green – named after a song by The Jam – had been affected by the weaker retail environment.
With the number of insolvency cases in the UK starting to accelerate, it shows that even one of the world’s biggest names in music is not immune to the insolvency challenges facing the UK retail sector.
Whether in the future the iconic Oasis musician will – in the words of his most famous lyrics – look back in anger at the financial collapse of his fashion dream remains to be seen.
He is not the first pop star to be involved in an insolvency process – Westlife, Blue and The Backstreet Boys can all boast at least one member who has experienced insolvency, administration or bankruptcy.
Yet for now, Gallagher’s insolvency situation is certainly out-of-tune with the high hopes he had for the brand when he first swapped a record label for a fashion one.
For more information about the work of our licensed insolvency practitioners and businesses recovery teams in Leeds, Bradford, Harrogate and Darlington, please call us on 03300 244 660 or email email@example.com