Pretty Green, the UK fashion brand founded by Liam Gallagher, was recently acquired 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 shut down, putting 97 jobs at risk. Pretty Green has been one of many UK high street retailers to face financial problems recently.
Challenging retail conditions and House of Fraser’s fall into administration were blamed for the fashion chain’s problems, according to a report. When a business goes into administration, a licensed insolvency practitioner is appointed as the administrator who manages the business and acts in the best interest of creditors. Pretty Green, founded in 2009, was owed more than £500,000 when House of Fraser collapsed. JD Sports is one of the few high street retailers in the United Kingdom to continue in business.
