But, it turns out the glamorous image Scott portrayed on Instagram wasn’t what it appeared.
In recent years, Scott’s fashion line fell $US6 million in debt.
An October balance sheet revealed that Scott’s London-based business, LS Fashion Ltd., was $US5.9 million in the red for 2012 after recording a $US4.2 million deficit for 2011, according to PageSix.
Her company’s debt had been growing for years, going from $US2,120,015.67 in 2009 to $US3,063,160.87 in 2010.
Last month, Scott abruptly canceled her London Fashion Week show citing “production delays in key show and couture pieces” — but the truth is that her business was crumbling.
“L’Wren was in a lot of financial trouble. She was unable to pay her staff and her suppliers and it had been going on for a very long period of time,” a source in the fashion industry told Mail Online. “She wanted so badly for things to be a success.”
Despite her financial problems, Scott reportedly never asked her boyfriend of 12 years, Mick Jagger — who is worth a reported $305 million — for any assistance.
Scott felt strongly about maintaning her independence despite her famous boyfriend, previously stating, “I’m a fashion designer. I don’t want to be defined as someone’s girlfriend.”
She continued, “You always wonder if people will pay attention to the hard work that goes into what you do. And when you’re taking something on your own, it’s your company, your investment — your life.”
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