Stella McCartney is selling her stock on store TK Maxx after her company saw losses of £32million

Stella McCartney is selling her luxury fashion stock on budget store TK Maxx after her company saw losses of nearly £32million last year

Stella McCartney has been selling her luxury stock on budget store TK Maxx after her company saw losses of nearly £32million last year.

The fashion designer and daughter of Sir Paul McCartney, 50, has a flagship shop on Old Bond Street, London, but has taken to the website to shift her garments.

Several items of clothing have been marked down in price including sunglasses costing 65 per cent less than the recommended retail price of £170.

For sale: Stella McCartney has been selling her luxury stock on budget store TK Maxx after her company saw losses of nearly £32million last year

A faux fur jacket worth £855 is down to £299 and a £1,635 khaki mac jacket is now selling for just £399.

Elsewhere, a knitted jumper was reduced by 69 per cent to £399 and online shoppers could save £1,955 on a jumpsuit.

It comes after losses reached almost £32million in 2021 – and the company has still not paid her more than half a million pounds she was owed.

Cheap: The fashion designer and daughter of Sir Paul McCartney, 50, has a flagship shop on Old Bond Street, London, but has taken to the website to shift her garments

Cheap: The fashion designer and daughter of Sir Paul McCartney, 50, has a flagship shop on Old Bond Street, London, but has taken to the website to shift her garments

The drop was so big that accounts show that a dividend due to Stella two years ago of £531,000 has not been paid, although she was paid £2.4million last year.

Figures in the accounts show sales were down from £42.5million in 2018 to £38.2million in 2019.

Rising costs and administrative costs meant the company made the loss of £32million compared to a loss of £11million the year before.

Losses: It comes after losses reached almost £32million in 2021 - and the company has still not paid her more than half a million pounds she was owed

Losses: It comes after losses reached almost £32million in 2021 – and the company has still not paid her more than half a million pounds she was owed

The drop in sales occurred before the global pandemic and the company said recovery from from the lockdown would be gradual.

And the firm owned by Stella said in the report that the Covid crisis had badly hit the company.

The accounts papers said: ‘Our business was materially impacted by the Covid 19 outbreak and we expect the recovery in our sales levels over the medium term to be gradual.

‘Prior to the outbreak of Covid 19 we were making good progress in delivering against our strategy.’

Flagship: McCartney's shop in Mayfair, one of 51 stores selling her clothes around the world

Flagship: McCartney’s shop in Mayfair, one of 51 stores selling her clothes around the world

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