Celebrity fashion house enters liquidation
26 July 2023
Julien Macdonald has been placed in liquidation with Alan Coleman and Marco Piacquadio, directors FTS Recovery, appointed as joint liquidators.
The Welsh fashion house is fronted by Julien Macdonald, OBE, who has worked with brands such as Chanel, Givenchy and redesigned the flight attendant uniforms for British Airways.
The business fell into trouble during the Covid pandemic which affected all aspects of the retail sector. Julien Macdonald lost a significant proportion of revenue following the collapse of Debenhams at the end of 2020.
No employees or existing contracts could be saved. However, the liquidators are selling stock and other assets in order to seek repayment for creditors.
Alan Coleman, Director FTS Recovery, said: “Due to the loss and under performance of several key contracts, including its main UK retail licensee, along with a previously growing licensee based in the United States, which severely impacted cashflow, the company is now in liquidation.
“The cashflow issues were compounded by general inflationary costs, which impacted on all aspects of the business.”
Julien Macdonald’s clothing has been worn by celebrities such as Beyoncé, Kylie Minogue and Jennifer Lopez and the designer has appeared as a judge on TV show Britain & Ireland’s next top model.