Liam Gallagher's former fashion label Pretty Green owes £17.5 million in debt.
Liam Gallagher
The former Oasis rocker launched the brand in 2009, but after it went bust last year, the company was bought by JD Sports, who are now responsible for paying back the money owed to creditors.
According to The Sun newspaper's Bizarre column, Pretty Green has now been given a 12-month extension to pay back its £17.5 million in debts to a total of 326 creditors, who are now demanding their money back.
However, liquidators say they may not get what they are owed.
They warned: "Based on current information, the administrators do not anticipate there being sufficient funds to enable a dividend to be paid".
Pretty Green also owes a number of former employees outstanding wages and holiday pay, and investors - including Prodigy rocker Liam Howlett and former Chelsea and England midfielder Joe Cole - could also be set to lose money from their investments.
The label was founded by Liam over a decade ago and is synonymous with his own fashion sense, including his wardrobe staple, parka coats.
And last year, Liam even considered moving house to a property with more storage space, as he was running out of room for his vast collection of jackets, which have become his signature look.
He said: "I've hundreds of the f***ers. I've got so many parkas I can't hang them all up and I'd rather throw the house than the parkas."
The 'Shockwave' hitmaker has always been confident in his fashion choices but he does regret his sartorial choice of wearing a t-shirt with cut-off sleeves in the early 2000s because he thinks it made him look like fellow rocker Jon Bon Jovi.
Asked his worst fashion mistake, he said: "The cut-off sleeves. It wasn't a stage! Just the once and I wouldn't normally comment on it, but that's the one. The cut-off sleeves and the scarf.
"I don't know what I was going for, but it looked a bit Bon Jovi and that wasn't it. I'd probably lifted one weight and thought, 'Yeah, you look cool.' "
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