Lucy in Disguise LLP, which operated pop singer Lily Allen’s fashion rental store and was formed in 2009, faces a winding-up petition later today in the Companies Court in London. Allen and her sister Sarah Owen opened their own clothing store entitled “Lucy in Disguise” on 15 September 2010. The store closed just ten months later after a celebrity attended opening. Retail guru, Mary Portas, revealed her fears about the vintage fashion rental scheme at the outset in Channel 4’s From Riches To Rags.
The net worth of the LLP is understood to be £-91,553 which is calculated as Shareholders Funds minus Intangible Assets (£-91,553 is from the accounts filed in 2010). The LLP members listed at Companies House are Miss Sarah Owen and Ms Alison Mary Owen.
The winding-up procedure involves a petitioning creditor (often HMRC) seeking the company, or in this case partnership, be wound up by the Companies Court on the basis of insolvency demonstrated for example by the inability of the partnership to pay debts of £750 plus as and when they fall due.
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