Financial Troubles Plagued L’Wren Scott In The Years Leading Up To Her Suicide
As authorities, friends and loved ones continue to try and make sense of the tragic suicide of fashion designer L’Wren Scott, there is word now that Scott was struggling with millions in debt.
Fox News reports that Scott’s business, LS Fashion, reported $5.9 million in debt in October 2012. “The balance sheet also indicates that more than $1.7 million was owed to creditors within one year and a significant $7.6 million due after that,” Fox reports.
Scott cancelled her London Fashion Week show last month, with official word going out that “production delays” were to blame. However, the site says, among close friends and others who knew her, there were bigger problems and financial troubles weighed heavily on her.
We’re told that Scott felt extreme angst and personally responsible for all investors and creditors and people owed money, and she was not willing to simply walk away. She was also gravely concerned about her image in the fashion industry, and the potential years of litigation ahead upset her.
Scott’s first collection launched in 2006.
In the meantime, The Rolling Stones have cancelled a Wednesday show in the wake of the news. The band’s front man, Mick Jagger, 70, was Scott’s longtime partner; their relationship began in 2001. Scott was 49 years old.
Jagger’s publicist also squashed a New York Post story saying the two had split.
“The story in the New York Post re a split between Mick Jagger and L’Wren Scott is 100% untrue. There is absolutely no basis in fact to this story. It is a horrible and inaccurate piece of gossip during this very tragic time for Mick,” said representative Victoria Scarfone.
There has been an outpouring of sadness and condolences from the many celebrity friends and clients that Scott made over the years.