Karen Millen, founder of the eponymous womenswear chain, has been declared bankrupt by the High Court.
It is understood the bankruptcy relates to unpaid taxes.
It comes after Millen lost a legal dispute last year over the use of the Karen Millen name. She wanted to use her name on homeware products in China and the US.
However, a High Court judge ruled that this would breach an agreement made in 2004 when she and her then husband, Kevin Stanford, sold their majority shares in the retailer to Baugur Group, with debt finance provided by Icelandic bank Kaupthing.
Read the full article at: https://www.drapersonline.com/news/karen-millen-founder-declared-bankrupt/7019871.article
