Sir Mick Jagger's girlfriend committed suicide in March, 2014, aged 49, and subsequent reports suggested her company, L.S. Fashion, was in financial trouble with debts of around $10.4 million (£6.5 million).

At the time, a spokesperson for the label insisted the story was "misleading and inaccurate" but more than a year later, it has been revealed that the luxury brand is to close.

According to Britain's Daily Mail newspaper, John Hoffman, a director at the firm, has applied to U.K. government agency Companies House to get L.S. Fashion Ltd struck off the register.

A source says, "It's very sad, but there is no longer the desire to keep it as a going concern."

More: Mick Jagger Performs At L'wren Scott's Memorial Service ...

Daily Mail: Mick Jagger's tragic lover L'Wren Scott's final insult as firm shuts ...