LONDON — Luxury lingerie brand La Perla is raising recent funds and paying off outstanding debts within the U.K. that had led to a series of winding-up petitions filed by creditors.

The Italian lingerie brand, which is now based in London, had been served winding-up notices up to now months by Purple PR; the accountancy firm Mazars; the design agency Edge Retail, and the consultancy firm HSO Enterprise Solutions.

Within the U.K., a winding-up petition is a legal notice that creditors file with the courts to determine whether a debtor company is insolvent. It may be a primary step on the road to liquidation.

Petitions from Purple PR, Mazars and Edge Retail have since been withdrawn after La Perla paid its debts. In accordance with court documents, the corporate still owes HSO Enterprise Solutions greater than 701,129 kilos, and a winding-up petition remains to be pending.

The brand said in a press release to WWD on Tuesday that the outstanding debt was on account of a “easy timing issue,” and added that a recent marketing strategy has since been submitted and approved by the board.

“The funds at the moment are available, and each outstanding payment shall be settled very soon,” the statement said.

The corporate added that it plans to stipulate its recent strategy in the approaching months.

News of the winding-up petitions was first reported by The Sunday Times of London.

In accordance with separate court documents, a breach of contract case stays open between La Perla and Fashion Design Consultancy LLC, an organization owned by “My Unorthodox Life” star Julia Haart and model Mandy Lieu.

The latter made headlines in Asia following her close relationship with Alvin Chau, the disgraced Macau gambling tycoon. Earlier this 12 months, Chau was sentenced to 18 years in jail for greater than 100 charges including organized crime and illegal gaming.

WWD has reached out to La Perla individually for comment concerning the breach of contract case.

Haart served as creative director of La Perla from 2016 to 2018 when the corporate was owned by her ex-husband, the Swiss entrepreneur Silvio Scaglia. He sold it to the German businessman Lars Windhorst’s private equity firm Sapina Holding, which is now called Tennor.

The brand has been searching for brand spanking new revenue streams and has expanded into beauty and swimwear. It became considered one of the primary brands to affix Amazon Luxury Stores. The corporate also invested $50 million into the now-shuttered British couture house Ralph & Russo.

It stays heavily indebted. Last 12 months, La Perla logged pre-tax losses of 48.8 million euros on sales of 69.1 million euros, based on the corporate’s annual report.

La Perla was founded in 1956 by the corsetry-maker Ada Masotti. Her son, Alberto Masotti, headed the business until it was sold to personal equity player JH Partners in 2007. Ownership of La Perla later passed to Scaglia.

La Perla isn’t the one London-based fashion brand to run into financial difficulties post-pandemic.

The Vampire’s Wife, a fashion brand known for its flowing sharp-shouldered dresses and gothic charm, is about to be placed into receivership by the British courts this month.

Christopher Kane, considered one of London’s best-known and most talented designers, last month entered administration and is hoisting a on the market sign.

The corporate said the board of Christopher Kane Ltd. has recently resolved to file a notice of intention to appoint FTS Recovery as administrators to hammer out a rescue plan.