Victoria Beckham’s luxury brand ‘has debts of £54m’ due to effects of Covid pandemic | Celebrity News | Showbiz & TV

It was previously reported that the company had been able to half losses during the pandemic when shops were shut. 

A spokesperson for the Spice Girl said in December that they had a “good result” given the tough circumstances.

They told Metro: “In a pandemic year when stores selling Victoria Beckham fashion and beauty are shut, the company managed to halve its losses and grow its online sales in the fashion business and significantly grow its beauty business.

“The fashion business tightened the management of creation costs: fabrics and samples etc, plus freight costs. IT contracts were also reduced.  

“They also merged the two brands into one which reduced the duplication of costs. A good result in a difficult year.”