Fashion designer Victoria Beckham is said to be about to take out a R137 million loan to save her business.
The singer-turned-designer was offered the loan after her company, Victoria Beckham Ltd, suffered significant losses over a four-year period.
The loan will allow Victoria to retain control of the company.
However, if London Investments Sarl, based in Luxembourg, is not repaid, the cash could be converted into shares of Victoria Beckham Ltd.
A financial expert told The Sun newspaper: “Posh would no longer want to relinquish control of a company created in his name.
“Yet desperate times demand desperate measures. This move will ensure a much needed injection of cash – and after racking up record losses of some £ 12million (Rand 256million) last year, they can’t stand. allow not to do something drastic. “
In 2017, London Investments invested R642 million in the business for a 28% share of the business.
The cash injection and corporate restructuring plans were revealed earlier this week in new records.
Meanwhile, Victoria recently admitted that wearing fitted dresses during the early years of her career was a “sign of insecurity.”
The 46-year-old fashion designer now recognizes that her style was aimed at helping cope with her own insecurities.
When asked if she had ever felt confused about her personal style, Victoria replied, “No, not really. When I was in the Spice Girls, there were stylists who dressed the band, but in my personal life, I have never worked with a stylist.
“I used to wear a lot of structured dresses with corsetry, and I still have some of those dresses, but my personal style has become more relaxed.
“Looking back, I guess it was a sign of insecurity that I always wear very tight, tight fitting clothes.”