Victoria Beckham fashion label in trouble with £54 million debt?

Victoria Beckham is seemingly involved in money crisis, reports Mirro.co.uk.

The former Spice Girl, who now sells high-end fashion clothes under label Victoria Beckham, owes a whopping amount to lenders.

A report said: “Total revenues for the Victoria Beckham Holdings group fell 6% to £36.1m (2019 – £38.3m) due to the effects of the global pandemic.

Posh famously sells £500 jumpers £400 jeans, owes £53.9million worth of debts.

“This group rapidly responded to the effects of the pandemic and controlled its cash and expenditure which led to a significant reduction in its operating losses by 57%, thanks to cost efficiencies across the business and the recalibration of its business model to make it sustainable for the longer term.

“Victoria Beckham Beauty continues to expand its portfolio with a number of successful product launches in this year with best in class in clean luxury beauty and skincare.”