Co-founder of lingerie brand Agent Provocateur, Joe Corré, has lashed out at the sale of the company to Mike Ashley-backed Four Marketing, branding the deal a “disgrace to British business”.
The deal has drawn a harsh response from Corré, as reported by The Guardian. He said: “The pre-pack arrangement between 3i and Mike Ashley’s Sports Direct is a disgrace to British business up there with Sir Philip Green’s shocking behaviour over BHS.
“If this preposterous deal goes ahead with Mike Ashley, 3i and their partners are going to face a phenomenal swath of litigation actions. 3i’s reputation is going to be left in tatters. I don’t think they will ever recover from this.”
Corré also claimed Ashley would “pick at a carcass” and plans “to the keep the brand and the stock and nothing much else”.
Corré co-founded Agent Provocateur in 1994, alongside Serena Rees. In 2007, 3i bought a £60m controlling stake in the business from Corré, who is the son of fashion designer Dame Vivienne Westwood and Malcolm McLaren. He left the business in 2009.
Drapers has contacted Four Marketing for a comment.