Liam Gallagher’s Pretty Green has fallen into administration, putting hundreds of jobs at risk.
Simon Thomas and Nicholas O’Reilly of Moorfields Advisory Limited were appointed as joint administrators on 28 March.
Moorfields Advisory is looking for a buyer for all or part of the business.
One source indicated a management buyout of the company was likely.
Simon Thomas, partner at Moorfields Advisory, said: “We continue to work closely with Pretty Green’s management and its advisers. Following a period of marketing the brand attracted a large amount of interest, so we remain hopeful a deal can be done. We have informed employees about the process today and will continue to keep them updated on developments.”
“The brand has a strong following and it is unfortunate that similar to many other retailers who rely on concessions they have suffered as a consequence of larger department store insolvencies.”
It comes after Pretty Green filed a notice of intention to appoint administrators last month.
In March Drapers 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.
Pretty Green has 12 stores including its flagship store in Manchester, and 33 concessions situated in House of Fraser stores. Items can also be purchased from the brand’s own website.
Pretty Green has been contacted for comment.