TRULY DISASTROUS: After Holly’s snub, Dragons’ Den star’s brand is forced into huge sale of stock

HER own stock continues to rise, but the lifestyle business jettisoned by Holly Willoughby has been forced to launch a massive sale.

The TV presenter had been scheduled to become the face of homeware and accessories brand Truly, but dramatically quit last September to concentrate on her lucrative contract with Marks & Spencer and her role as a replacement for Ant McPartlin on ITV’s I’m A Celebrity… Get Me Out Of Here!

The decision stunned her business partner Peter Jones, the Dragons’ Den star, but he insisted he would still make a success of the venture.

But Truly has now slashed prices on 94 per cent of its 196-item product range, with an email to subscribers last week offering reductions of up to 40 per cent on some products.

Bargains include a reversible velvet eiderdown reduced to £119.40 from £199, a Shearling rug slashed from £78 to £46.80, and a Goddess jumpsuit down from £120 to £84. It is understood that Mr Jones wants to reduce the level of stock being held in the Truly warehouse in Marlow, Buckinghamshire.

Miss Willoughby’s decision to abandon Truly, which had been likened to Gwyneth Paltrow’s Goop brand, put a strain on the relationship that she and her television producer husband Dan Baldwin had enjoyed with Mr Jones. That is unlikely to have been helped by the launch of Miss Willoughby’s new M&S range just hours after the email announcing the Truly sale was sent out.

Announcing her Holly’s Picks collection – part of a £1 million deal she has with the retailer – the TV star wrote on Instagram: ‘So excited to announce the launch of my new #Hollyloves edit with @marksandspencer… so many beautiful items and you can get them in store or online on July 18…’

Mr Jones last night played down the sale, saying: ‘The White Company launched a 50 per cent off sale so we didn’t want to lose any market share and decided to respond.’