RIP

03.21.14

L’Wren Scott Was Not Closing Label

Despite media reports that the fashion designer was in deep debt, a spokesperson for the company has denied such speculations.

Despite several media reports that former model, fashion designer, and girlfriend to Mick Jagger, L’Wren Scott, was experiencing financial woes that resulted in her suicide, a spokesperson for the company has denied such speculation. In an official statement, the spokesperson wrote:

The figures quoted in the media regarding the financial status of LS Fashion Limited are not only highly misleading and inaccurate but also extremely hurtful and disrespectful to the memory of L'Wren Scott.

Ms. Scott was considering a re-structure of her global business. The L'Wren Scott business consists of a wholesale business of ready-to-wear women's wear, a bespoke Couture business for private clients, a licensing business, Ms. Scott's globally recognized work as a Fashion Consultant and stylist and her collaborations such as her recent collection for Banana Republic. Her business overall was only seven years old and although some areas of the business had not yet reached their potential other parts of her business were proving successful. As a private business, details of income and turnover are not publicly disclosed, however it can be said that the long-term prospects for the business were encouraging. Ms. Scott was very focused on doing what was right for her global business and for the support of her team.

In terms of figures shown at Companies House in the UK. The parent company of LS Fashion Limited based in America had made a standard loan investment to the UK subsidiary. LS Fashion Limited is fully able to meet the company's liabilities and pay all suppliers and customers.

L’Wren Scott was found dead in her Manhattan apartment Monday.