JD SPORTS BUYS LIAM GALLAGHER’S FASHION BRAND OUT OF ADMINISTRATION

All but one of Pretty Green’s stores and all its concessions are to close, with the loss of nearly 100 jobs, after JD Sports agreed to buy Liam Gallagher’s fashion brand out of administration. Terms of the deal were not disclosed.

The sportswear chain has acquired the Pretty Green brand, online and wholesale business as well as a flagship store in Manchester, saving 67 jobs. However, 11 stores and 33 concessions in House of Fraser, which is owned by JD Sports’ rival Sports Direct, will cease trading immediately.

Simon Thomas, a partner at restructuring specialist Moorfields Advisory, said: “We are pleased to have secured the sale of the Pretty Green brand. We have worked hard over the last few weeks in challenging circumstances to secure the best outcome for the business, its creditors and its employees.

“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.”

Peter Cowgill, the executive chairman of JD Sports, which owns Millets, Blacks, Size? and Scotts and is in the process of buying the ailing trainer specialist Footasylum, said: “We look forward to working with the team on future positive developments.”

Pretty Green, which was founded by the former Oasis frontman in 2009, called in administrators last week after appointing Moorfields to review strategic options for the future of the business a few weeks ago.