David Beckham 'bailed out dying Victoria's fashion business at cost of £5.2 million'

Victoria Beckham’s fashion business was bailed out by husband David after facing costs of £3.8 million. The huge bill left her empire with a £3.8million deficit for 2014 despite a turnover of £34 million. Becks, 40, came to the rescue with £5.2million after Victoria spent £2,854,091 setting up an architect-designed shop in Mayfair, central London.

However, experts said the accounts suggest it is simply a transfer of operations between companies owned by Victoria and David. In effect the couple are simply moving the profits between themselves.

Accounts show she signed a ten-year lease on the three-storey outlet with an annual rent of £650,000.

At the time Posh, 41,topped a list of Britain’s top 100 entrepreneurs with a management magazine praising her “finely tuned business acumen”.

The store’s cheapest item is a £150 leather card holder. A Victoria Beckham key ring costs £165. The most expensive item is a simple white structured dress at £2,650. Handbags are £1,690 and £1,850. Her store’s VIP section has a £600,000 Damien Hirst artwork and offers customers champagne as they browse. 

The website cost £670,641 and the highest paid director, believed to be Victoria, received £455,000.

Becks’ payment was described in accounts as “discontinued operations”. The Director’s Report said: “As part of the corporate restructuring planned last year, the company is now focused purely on the Victoria Beckham fashion business and the Victoria Beckham brand.

“As such, the contracts held by the company relating to the David Beckham brand were transferred during the year to DB Ventures Ltd, a sister company of David Beckham Brand Holdings Ltd which is focused on exploiting the David Beckham brand.”

Last year Brand Beckham was estimated to be worth £500million.