Just one shop survives at Pretty Green, the multichannel menswear brand founded by former Oasis front man Liam Gallagher after the retailer was bought out of administration by JD Sports this week.
Staff at the Manchester store are among the 67 people whose jobs have been saved through the sale, which was confirmed by administrator Moorfields Advisory.
It is understood that 11 other Pretty Green stores will close along with 38 concessions, putting 97 jobs at risk.
Simon Thomas, partner at administrators Moorfields said: “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.”
Moorfields said that the Pretty Green brand, ranked Top500 in IRUK Top500 research, experienced a difficult 2018 largely as a result of the House of Fraser administration which hit its concessions within House of Fraser stores. The challenging retail environment also had an impact, said Moorfields, as many retailers struggled with increased costs and the shift to online retailing.
Commenting, Chloe Collins, senior retail analyst at data and analytics business GlobalData, said that the challenge for JD Sports would now be revamp Pretty Green’s “rock n’ roll” credentials to resonate with younger shoppers. “With difficulty in justifying its existing premium price points, Pretty Green could benefit from being repositioned to the upper midmarket, making its ranges more accessible to shoppers.
“Pretty Green is a much better fit for JD Sports than Sports Direct, who were also reported to be in the running, owing to the former’s evident fashion credentials. While PrettyGreen’s physical presence has been dramatically reduced to just one store, there remains the opportunity to extend its reach via JD Sports’ network and new third-party retailers such as John Lewis. As the online channel is now so crucial for Pretty Green, exploiting JD Sports’ prowess in this area should be a priority.”
Image: Screenshot of Pretty Green website InternetRetailing Media
