Liam Gallagher’s menswear brand Pretty Green has appointed advisers to consider options for the business that could involve a sale, Drapers can reveal.
The brand has appointed accountancy firm Moorfields Advisory to oversee a strategic review, and Drapers understands a sale of the business could follow later this year.
A Pretty Green spokesman said: “Despite sales growth for almost a decade, Pretty Green is not immune to the challenges currently 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 with our advisers.”
A Moorfields spokeswoman added: “We are working with Pretty Green to consider all options for the business.”
Former Oasis frontman Gallagher founded Pretty Green in 2009. It received £11m from Rockpool Investments in 2017 to accelerate its growth in the UK and abroad.
A source close to the situation told Drapers: ”Pretty Green went through the cash extremely quickly and now it is really struggling. It was hit really badly when the House of Fraser website went down.”
House of Fraser’s website was taken down in August 2018 amid a dispute with warehouse operator XPO Logistics, and stayed offline for a month.
Some brands have also reported a drop in online sales since Sports Direct took over House of Fraser six months ago.
Pretty Green has concessions in a number of House of Fraser stores, as well as on the department store’s website. It is also thought to trade from around 12 of its own stores.