The former Spice Girls’ fashion brand has been racking up losses for years and could be unsustainable.
Although her fashion and beauty brand has been successful, Victoria Beckham may have to close her company, a British newspaper has confirmed.
With the pandemic, his brand ceased to be profitable, but he already had financial problems since 2019, whose losses exceeded US $ 14 million.
And the situation got worse with the coronavirus.
According to the Daily Mail, through the data collected by an audit, his fashion brand is in danger due to the constant accumulation of debts.
Since its founding in 2008, the company would have generated losses of more than US $ 53 million.
In an attempt to emerge afloat again and avoid laying off her staff, Victoria Beckham has requested government help, something that many have criticized.
The presenter Piers Morgan got ‘pissed off’ to the point of criticizing her: “The rescue plan was not for millionaires like you,” he claimed.
With his decision to ask for help, it is said that 80% of the salary of his employees will be paid with public money.
“Initially, the shareholders reached an agreement with the management to suspend a small proportion of the staff. At that time we did not know how long the lockdown was going to last or what impact it was going to have on the business, “Victoria explained to The Guardian newspaper.
Although their fashion label is in jeopardy, the Beckhams are far from poor.
The Sun newspaper assures that they and their future generations have nothing to worry about, mainly because the former footballer and businessman continues to pocket about US $ 49 thousand a day just with his image rights.