The Vampire’s Wife has reached an agreement to settle its unpaid tax bills with the UK’s tax and customs authority HMRC, which previously called for the liquidation of the cult fashion label over the debt.

The brand, founded by Susie Cave in 2014, said in a statement that the settlement is being “financed by existing investors” but declined to reveal their identities. In 2020, music producer Jimmy Iovine and model Liberty Ross purchased a majority stake in the business. Public records name Iovine as an “active person with significant control.”

In May, HMRC issued a “winding-up petition,” which could have allowed courts to liquidate the company for failing to settle outstanding tax obligations. According to The Vampire’s Wife, HMRC previously rejected requests from the brand to arrange a payment plan to repay its debt. The court was due to rule on the petition’s success in a hearing scheduled for today.

“We are fortunate for the continued support of our shareholders, and for our wholesale partners, clients and fans of The Vampire’s Wife who have helped and sustained us during this challenging time,” the statement said.

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The Vampire’s Wife Faces Liquidation Petition

The cult fashion label said the UK’s tax and customs authority issued a “winding-up petition,” which would allow courts to shutter the company for failing to settle its outstanding tax obligations.