L'Wren Scott spokesperson blasts 'misleading' financial reports as 'extremely hurtful' and 'disrespectful' to fashion designer's memory

Read the statement from L'Wren Scott's business spokesperson in full

Designer L'Wren Scott attends the 2011 CFDA Fashion Awards at Alice Tully Hall, Lincoln Center on June 6, 2011 in New York City. (Getty Images)

A spokesperson for the business of the late L'Wren Scott has condemned "misleading and inaccurate" reports that the late fashion designer had run up millions of pounds of debt and was set to announce the closure of the business.

Several stories suggested that Scott, who was found dead in her apartment earlier this week, had succumbed to the financial pressures of her business, and claimed that her fear of failure was a factor in her suicide.

But a representative for Scott's fashion label dismissed the reports in a statement, which read as follows: "The figures quoted in the media regarding the financial status of LS Fashion Limited are not only highly misleading and inaccurate but also extremely hurtful and disrespectful to the memory of L’Wren Scott.

"Ms. Scott was considering a re-structure of her global business. The L’Wren Scott business consists of a wholesale business of ready-to-wear women’s wear, a bespoke Couture business for private clients, a licensing business, Ms. Scott’s globally recognized work as a Fashion Consultant and stylist and her collaborations such as her recent collection for Banana Republic.

"Her business overall was only seven years old and although some areas of the business had not yet reached their potential other parts of her business were proving successful.

"As a private business, details of income and turnover are not publicly disclosed, however it can be said that the long-term prospects for the business were encouraging. Ms. Scott was very focused on doing what was right for her global business and for the support of her team.

"In terms of figures shown at Companies House in the UK. The parent company of LS Fashion Limited based in America had made a standard loan investment to the UK subsidiary. LS Fashion Limited is fully able to meet the company’s liabilities and pay all suppliers and customers."

Rolling Stones Express Fears For Mick Jagger

L’Wren Scott's fashion team also issued a statement. It read: “We have lost a great friend and an inspiring leader. We are grieving privately and whilst we appreciate the incredible tributes that have been paid in the media by those who knew L’Wren, we strongly object to some of the media’s intrusion into issues that are not only untrue and misleading but also distract from remembering and celebrating her life - the life of a successful, talented, kind, generous and extraordinary woman.

"We ask that our privacy and that of L’Wren’s family and close friends be respected at this difficult time."

On Wednesday, a New York City Chief Medical Examiner confirmed that Scott had committed suicide. She was found by her assistant in her Manhattan apartment on Monday morning.

Her boyfriend, Rolling Stones frontman Mick Jagger, paid an emotional tribute to Scott on his official website earlier this week.

“I am still struggling to understand how my lover and best friend could end her life in this tragic way,” he wrote.

“She had great presence and her talent was much admired, not least by me. I have been touched by the tributes that people have paid to her, and also the personal messages of support that I have received. I will never forget her, Mick.”

The Rolling Stones have since cancelled their tour of Australia and New Zealand.

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