Designer who sold £50,000 dresses to the stars goes bust

A MAyFAIr fashion designer who has dressed stars such as Princess Beatrice, Gillian Anderson and rita Ora has gone bust.

One of the city’s most opulent designers, Nicholas Oakwell, sold beadembellished dresses for up to £50,000.

He was a favourite with the rich and famous, supplying gowns to Game of Thrones actress Natalie Dormer, Oscar winner Hilary Swank, model Karlie Kloss (pictured) and British singer Paloma Faith.

But just months after launching his spring/summer collection with great fanfare at london’s Claridge’s hotel in a £600,000 bash – the money ran out.

The 47-year-old’s design house has failed, and creditors are angry, according to the london Evening Standard.

This is despite Oakwell charging more than £20,000 for a standard dress. One creditor, Parisian silk flower maker Ets legeron, is £45,272 out of pocket.

Boss Bruno legeron, who also supplies Dior, said he ‘deeply regretted’ doing business with Oakwell.

The Greek Cypriot-born Oakwell moved to Scotland in 1973, aged four, before moving to Surrey.

He studied millinery before taking the post of in-house designer for Harvey Nichols’ own brand.

After becoming a hotel uniform designer, the entrepreneur decided to launch his own Couture label.

But despite his elite clientele, the business failed and a meeting of creditors was held by business advisers lB Insolvency on Monday.

The Evening Standard said documents from that meeting showed Oakwell sold his Couture business’s stock to another business he owned, Nicholas Oakwell Holdings, for £8,400 two days after declaring itself insolvent.

That is controversial, as creditors are meant to take priority on asset disposal. It is understood creditors were told the transaction would be fully investigated by the liquidator. Oakwell did not respond to calls and texts, and lB Insolvency refused to comment.

The cash-strapped demise of Nicholas Oakwell Couture is in contrast to his extravagant Claridge’s show. The event was dripping with celebrities and aristocracy, including Princess Diana’s niece lady Kitty Spencer, and featured two life-sized, fibre-glass elephants.