Wednesday Dec 07, 2022
David Beckham has given an ultimatum to wife Victoria Beckham to make changes in her heavily in-debt fashion business.
The famed fashion designer’s husband has been urging her to take steps to cover the loses after it emerged that Victoria's high-end clothing company has debts of £ 53.9 million.
David has told his wife that her 14-year business is taking its last breaths and is "draining" their finances after it failed to attract customers during Black Friday sale.
“David doesn’t want to be the bad guy, but the business has been propped up with money from Brand Beckham for years, and it can be a big drain on finances,” the insider told Heat Magazine.
“He wants to see it moving in the right direction – if it’s not making money, then changes need to happen,” the source added. “But it’s such a thorny subject for them, because Victoria is so passionate about her business.”
“There’s an amazing team there who have lots of solutions for making money, but Victoria is reluctant to change too much as she has a vision for her brand and refuses to ‘cheapen’ it.”
The insider went on to add that David understands that Victoria would be “humiliated” if her business closes down, adding that she is already “mortified over the loses” and “feels like a failure.”
But “David wants to protect the family’s future," the source said, adding, "He is adamant that things cannot continue like this, and that if they don’t see a turnaround in the next year then he will reassess what they can do and look at other avenues to start making money."
However, Victoria Beckham is “100 per cent devoted to the business, and is still determined to try to turn things around,” said the source revealing that she is firm that her prices “stay high and the clothes fashion-forward.”