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Millen has not designed clothes for the company that bears her name for well over a decade, yet she remains forever yoked to the business that she started with Stanford in 1981, when she was just 19. When I hand over my credit card, people will often say: How funny, you have the same name as the shop, she said in a recent interview. The enterprising couple got the business off the ground with a 100 loan and used the money to buy bolts of cotton with which to make the crisp white shirts that would be their early bestsellers. The first store opened two years later and by the time they sold out in 2004 it had become a chain of 100, retailing a sexy look of tight-fitting dresses and Versace-style bustiers that was firmly plugged in to the fashion zeitgeist. In the 13 years since Millen sold the company, she has appeared to be living in a bubble, dividing her time between her three children and charity fundraising. She celebrated her 50th birthday by throwing a 1930s-themed party on the Orient Express for close friends that included the models Kelly Brook and Caprice and the entrepreneur Jacqueline Gold. In interviews Millen, who was appointed an OBE for services to fashion in 2008, was often snapped posing by the swimming pool of her immaculate Georgian mansion, which boasted a football pitch and lake. It is now expected to be sold. Provided by Guardian News A London branch of Karen Millen in 2000 Millen says she is devastated by bankruptcy but blames Kaupthing, the collapsed Icelandic bank that backed the 2004 deal, rather than her own financial decisions for her current woes. Her story is a stark reminder of the noughties high street boom, fuelled by the expansion of Icelandic banks, that would go spectacularly bust during the credit crunch. Although Kaupthing had made her rich, Millen and Stanford, whose business interests remained linked despite their divorce in 2001, suffered heavy losses after the bank failed during the 2008 banking crisis, taking many of their personal investments with it.
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