A spokesperson for L’Wren Scott’s label wants to put an end to rumours that her business was millions of dollars in debt. “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.”;
Immediately after her death on March 17, several media outlets reported that the designer’s fashion house was up to $6 million in debt, suggesting it may have contributed to her suicide.
But L’Wren’s rep paints a more optimistic future of the business, saying, “Ms. Scott was considering a re-structure of her global 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.”; The statement also adds, “LS Fashion Limited is fully able to meet the company’s liabilities and pay all suppliers and customers.”;
The L’Wren Scott team shares their grief with the public, saying: “We have lost a great friend and an inspiring leader. We are grieving privately and whilst we appreciate the incredible tributes that have been paid in the media by those who knew L’Wren, we strongly object to some of the media’s intrusion into issues that are not only untrue and misleading but also distract from remembering and celebrating her life – the life of a successful, talented, kind, generous and extraordinary woman. We ask that our privacy and that of L’Wren’s family and close friends be respected at this difficult time.”;
