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Fashion brand Pretty Green, set up by former Oasis frontman Liam Gallagher, is on the brink of collapse, it's been revealed.

The label is reportedly preparing to appoint administrators next week as it becomes the latest victim of a brutal retail environment.

The decade-old menswear business has filed a notice of intention to appoint Moorfields Advisory to handle an insolvency process, according to Sky News.

The notice, which expires next week, had been put down in order to create a window for Pretty Green to secure new investment.

If a buyer is found for the upmarket fashion label, a deal would be implemented after administrators have been appointed.

Insiders say that there had been interest from potential bidders since Moorfields began running a process earlier this month under the codename Project Sky.

Pretty Green employs 180 people in the UK, and has built a strong wholesale business serving around 100 customers.

It also trades from about 40 in-store concessions.