Fashion Designer Julien Macdonald to Repay $150,000 in Debt
Liquidators report that the designer has agreed to a settlement for debts accrued by his former company, Julien Macdonald Ltd.
Fashion designer Julien Macdonald has agreed to repay $150,000 in connection with the liquidation of his former company, Julien Macdonald Ltd., which went into liquidation three years ago, leaving creditors owed approximately $524,000 and employees $162,000. Macdonald, 55, disputed owing at least $400,000, which liquidators attributed to "excessive remuneration in the lead-up to the liquidation."
After legal action from the liquidators, a settlement was reached. The agreement allows Macdonald to pay the debt in installments, with the first payment due at the end of last month and the final one by the end of March. However, a creditor indicated that the settlement amount is likely to be consumed by legal fees and liquidator payments, suggesting unsecured creditors may receive nothing.
Macdonald, known for designing a dress for Queen Camilla's first fashion show, has not commented on the situation. He also designed a "luxe" burger box for McDonald's.
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