Liam Gallagher’s Pretty Green fashion brand bought by JD Sports | All Charts News - breaking news english#bought #brand #FASHION #Gallaghers #Green #JD #Liam #Pretty #Sports
Pretty Green, the fashion brand founded by Liam Gallagher, has been rescued from administration by JD Sports.
JD Sports will keep the flagship store in Manchester open, but 11 other stores and 33 concessions in House of Fraser will close, putting 97 jobs at risk.
Pretty Green called in administrators last week.
“Challenging” retail conditions and House of Fraser’s fall into administration were blamed for the fashion chain’s problems.
Pretty Green was owed more than £500,000 when House of Fraser collapsed.
“We are pleased to have completed the acquisition of the highly regarded Pretty Green brand. We look forward to working with the team on future positive developments,” said Peter Cowgill, executive chairman of JD Sports.
- JD Sports to buy Footasylum for £90m
Pretty Green was founded in 2009 by Oasis frontman Liam Gallagher and named after a song by The Jam.
Simon Thomas, partner at administrators Moorfields said: “Pretty Green is a popular brand and received a considerable amount of interest. We are confident that JD Sports is the right fit for the business and will help to grow its online and wholesale channels.”
Pretty Green has been one of many High Street retailers to get into financial difficulties recently.
Last week, Debenhams agreed a £200m financing deal with its lenders to keep it going.
Last month, it emerged that Arcadia, which owns Topshop and Miss Selfridge, is considering job cuts and store closures to help boost its performance.
JD Sports is one of the few High Street retailers to be thriving.
Last month, it offered £90.1m to take full control of clothing and shoe retailer Footasylum.
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