Liam Gallagher’s Pretty Green has been sold to JD Sports, Drapers can reveal.
It comes after Simon Thomas and Nicholas O’Reilly of Moorfields Advisory were appointed as joint administrators on 28 March.
The sale includes the brand, online and wholesale business, as well as a flagship store in Manchester, securing the future of 67 employees.
The remaining 11 stores and 33 House of Fraser concessions will cease trading immediately, affecting 97 employees. The administrators are working to assist all those involved.
Simon Thomas, partner at 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, executive chairman of JD Sports, said: “We are pleased to have completed the acquisition of the highly regarded Pretty Green brand. We look forward to working with the team on future positive developments.”
In March, Drapers had exclusively revealed that Pretty Green had appointed advisers Moorfields Advisory to consider options for the business that could involve a sale.
Former Oasis front man Gallagher founded Pretty Green in 2009.