L'Wren Scott Business Woes Possible Contributor To Suicide
L’Wren Scott’s apparent suicide on Monday morning came as a shock to friends and her supporters in the fashion world. However, the 49-year-old designer had apparently been plagued by a financial crisis that was about to drown her business.
L'Wren Scott's Business In Debt
Scott’s business, LS Fashion Ltd, which was registered in London, had acquired debts exceeding $7 million by the end of the 2012 fiscal year. By October 2013, LS Fashion’s cash reserves had decreased by hundreds of thousands of dollars, leaving it with less than $100,000 cash, reported CNN.
Scott felt she had no choice but to cancel her show during London Fashion Week, which was to take place Feb. 16, according to the British Fashion Council. Although production delays had been given as the reason for the cancelation, it’s likely the money concerns were the dominating factor.
L'Wren Scott & Mick Jagger
The former model and stylist was “embarrassed” by the troubles facing her business, according to the Daily Mail. Scott didn’t want to rely on help from others in order to keep her business afloat and to pay off her mounting debts – not even from her longtime partner, Rolling Stones frontman Mick Jagger.
“L’Wren loved [Jagger] so deeply, she never wanted to hurt him,” a source told FOX411. “She never, ever wanted to use his name to promote her business or seem like she was using him for her own profit. L’Wren just really loved him and was terrified at the idea of losing him or letting him down.”
Although Scott allegedly worried about the impact her business failings would have on her relationship, the status of their partnership was apparently solid up until her death. As to reports that they’d recently split, a rep for Jagger called it, “a horrible and inaccurate piece of gossip during this very tragic time for Mick.”
The Rolling Stones canceled their concert on Wednesday, which was to be their first stop on the Australian leg of their tour. It’s not yet been announced whether or not the band will play their date Saturday in Adelaide.
L’Wren Scott was found dead Monday morning in her apartment in an apparent suicide attempt by hanging. The police do not suspect any foul play. The New York Medical Examiner will confirm cause of death.
– Chelsea Regan