TIMES ONLINE: His dramatic creations dazzled the catwalks for a decade, but the legacy of the fashion designer Alexander McQueen could be decided on the basis of a balance sheet.
An indication of the future of his fashion label will be given this morning — a week after the designer’s apparent suicide — by the French luxury group that controls his name.
McQueen’s eponymous brand struggled to make a profit and had millions of pounds of liabilities at the time of his death.
Analysis of the most recent accounts of McQueen’s British companies show that their current liabilities totalled more than £32 million. Although founded in 2001, the brand did not break even until 2007 and made a relatively small profit in 2008, before the world banking crisis that hit many high-end fashion companies.
A court was told yesterday that the designer was found hanged in a wardrobe at his apartment in Mayfair, Central London, the day before his mother’s funeral. A handwritten note was found nearby.
McQueen had discussed his legacy shortly before his death, saying: “I’m 40 now. When I’m dead, hopefully this house will still be going.” >>> David Brown | Thursday, February 18, 2010
