OLIVIA Attwood has resigned from her luxury fashion brand, which is £139k in debt and is at risk of being struck off.
The star launched her clothing business, We Are Foolish, in November 2021 claiming that she wanted to offer “timeless wardrobe essentials”; to fans seeking a high street alternative.
Within three months, it was forced to temporarily shut down due to severe delays in getting stock to customers – and , 33, stepped down from social media after feeling “run down”.
Now we can reveal more problems for the firm as has issued a strike off warning for failing to provide up-to-date accounts, which is a criminal offence.
The last accounts from 2023 reveal that the online fashion store is £139,919 in debt – and owes £275,528 to creditors.
While Olivia is still the face of the brand – she’s modelling clothes on the website’s homepage and Instagram – she quit the firm as a director last year.
As the brand’s financial fortunes slide, the We Are Foolish site is offering discounts on its clothes of up to 90 per cent off.
A black “quintessential blazer”; was £175 is now going for a bargain £26.99 – and there’s dozens of offers similar to this.
The site’s blurb states that: “Foolish is a contemporary luxury brand by Olivia Attwood.
“Intentionally contradictory, Foolish embodies “acting without judgement”;, a reflection of Olivia’s no-nonsense attitude, humour and personal style.”;
We Are Foolish was in the works for three years before its launch four years ago at the swanky W Hotel.
Her now husband led a host of stars at the fancy launch – including ‘s , , and , Love Island's and ‘s Tom Dolemore.
“I'm really proud of it,” Olivia told The Sun at the time.
“I've grown up so much in the past four years and I think my style has evolved. There will be people my age and older who want to invest in quality pieces that will last from season to season.
Olivia's representative has confirmed her resignation from We Are Foolish.
