Written by: Keith Tully
Published: 22nd November 2013
Lily Allen is best known as a successful pop singer but two years ago she founded a clothing company with her sister Sarah Owen.
Unfortunately for the duo, the fashion collection- ‘Lucy In Disguise’- has now fallen into liquidation.
According to various reports, the brand was forced into bankruptcy last month and the firm’s backer was granted a compulsory winding up order in the High Court earlier this year.
Aurora Fashions is the parent company of several retail brands including Oasis, Warehouse and Coast and it claims it was forced to take legal action after the clothing line failed to pay off £100,000 worth of debt in adequate time. ‘Lucy In Disguise’ allegedly still owes £12,000.
The celeb and her sibling set up the clothing company in 2010 after the mother-of-two announced that she was taking a hiatus from the music industry. The rental store loaned vintage designer items to customers who can’t afford to pay extortionate price tags. A collection designed by the girls was then introduced in 2011.
Lily Allen married her partner Sam Cooper, a decorator, in June 2011 when she was seven months pregnant and in the November she gave birth to a daughter called Ethel Mary.
However, the pop star bowed out of the business when she was pregnant with her second child, which she gave birth to in January 2013. It was another little girl, named Marnie Rose.
The 28-year-old’s sister was left in charge of ‘Lucy In Disguise’ and now the fashion firm has gone bust. It is still trading though and it’s been reported that invitations for a Christmas party were only sent out to the press last week.
When a business is in financial distress, there may be a solution that can help to avoid bankruptcy. Here at Real Business Rescue, we specialise in helping firms that are in trouble. We are the UK’s leading independent business rescue company, so get in touch with us today for free, confidential advice.
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