Dragons' Den star heartbroken as he admits 'defeat' closing business after 'fight

A luxury fashion business is shutting down just over a year after securing a £100,000 investment on the BBC's from Formby in 2018, had found success selling second-hand, high-end goods.

Following reports from former employees on TikTok claiming all staff had been made redundant, Ben has now confirmed the closure of Luxe Collective on the brand's social media pages. Ben cited a break-in at the company's Ormskirk warehouse in July last year as a significant factor in the decision, admitting he made subsequent choices that he now regrets. He assured customers that their queries about orders would be addressed in due course.

In a statement, Ben said: "Luxe Collective is closing down. I never thought I'd have to say this but the company I created seven years ago at just 18 years old will no longer exist. After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day, we are no longer able to continue", reports .

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"The last year has been the most painful in my life and to be truly honest, whilst I'm talking to you now, I'm overwhelmed with relief - I've never been so mentally and physically drained, stressed and anxious. Fighting daily just to keep the lights on has really taken a lot out of us. We have tried every single avenue we possibly could to carry on - but we've finally been defeated.

"It's easy for me to sit here and say the only reason as to why we've failed is the robbery. But that's not entirely true. The break in not only affected the financial state of the company but also took such an emotional and mental toll on me and my brother which ultimately affected my leadership and strategic decision making.

"I made decisions that, in retrospect, I regret - they were not the right ones. I take 100% accountability for this - it's on me. The criminals who broke in haven't just ruined the company. They've ruined the livelihoods of not just me and my brother but all the amazing staff that we have had to make redundant and who've lost their jobs in the process.

"I want to thank everybody who, over the last seven years, has shown support to me, my brother and my company, whether that was engaging with our social media or using our service. All the team members who have been a part of Luxe Collective at any moment, especially in the last 12 months when things got tough and times were uncertain - thank you.

"We had some unbelievable talent in this building and if there's any business watching this who are interested in taking new people on I'd be more than happy to provide a reference. Although we have failed in succeeding with this brand...there are still things that no one will be able to take away from me.

"I started this brand as a teenager and in the space of 7 years it was recognised all over the and got the whole industry talking about us. We generated over £30M in revenue from starting in our bedroom with £0 investment. It took me all over the world to cities like Tokyo and New York. I went to fashion shows like Valentino and Hugo Boss in Milan.

"I reached over 3 million followers and 1 Billion Views on social media. I went on Grace Beverley's podcast and met so many other amazing, super successful people "But most importantly, I built a relationship with my brother that would never have existed without going on this journey with him. Now, we're both back to square one. Not left with much except the 7 years of priceless experience and a fresh head to start something new with..

"To any customers this may affect, please reach out through the appropriate channels, and we will get back to you as soon as we can. To everyone who is reaching out publicly and privately, you don't understand how much it means during a time like this - thank you."

The online community has been pouring out messages of encouragement after a heartfelt announcement, with former employee and influencer Ella Hewitt sharing: "I've cried for days about this and I'm not sure what else to say other than I'm so beyond proud of you both for the brand you built, the community we created, and thankful for the opportunity that you gave me.

"Luxe Collective saved my life, it will forever feel like my baby and I am so sad to see it come to an end. My love goes out to all the staff affected by this. Ben and Joe, 99% of us will never understand the decision or feelings you're going through- what you achieved was truly incredible and I'm sure whatever you do next will be on another level. Love you guys."

Ben's videos showcasing the fashion industry's ins and outs took the internet by storm, making Luxe Collective a viral hit while also enticing people to engage with the brand's offerings. The allure of their content reached new heights in January 2024 when the company snagged a record-breaking £100,000 from entrepreneur Steven Bartlett on the hit series Dragon's Den.

But in an unforeseen twist, Ben announced in July via the company's social media platforms, divulging that their Ormskirk warehouse had been victim to cunning "professional group" culprits who managed to circumvent security and make off with half of their treasured stock last weekend.

A spokesperson for Lancashire Police confirmed they received a report of a theft on Seafire Way in Ormskirk that Monday morning, July 22, stating enquiries were ongoing. By November, Ben revealed they had been compensated for the stolen items. Lancashire Police commented in the same month: "This crime has been investigated as far as reasonably possible and the case has been closed pending further investigative opportunities becoming available."

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