Oh noes!
WWD
reports this morning that one of our favorite whip-smart Brit lines,
Luella
, has just lost a major investor, Club 21, leaving the decade-old brand in economic jeopardy and forcing it to suspend public trading and halt production of its current collection. This may not be the end for the label or its designer, the lovely ex-journo and Central Saint Martin's grad Luella Bartley, but it sure ain't a good thing considering Bartley and her staff had promised a major expansion of the punky, plucky brand earlier this year. Indeed it seems like only yesterday Bartley was being chosen as the first Target Go! designer and it was just this January she was named "International Designer of the Year" by Elle Sweden. Bartley has responded to this retreat by her former investors saying, "This is a very disappointing situation for everyone involved with the brand… I very much appreciate the support that VSQ has given me, but it is upsetting not to be able to protect jobs in this difficult economic climate. We have a number of options open to us, and are considering these over the coming months." Lets hope those options include a new team of investors bellying up to the bar and bailing out the punk princess. Also remember, money attracts money—so if you want to see the brand still kicking this time next year, perhaps it's time to vote with your feet and buy Bartley's goods while you can.
Image via Luella