Luxury fashion retailer Harrolds has entered liquidation after 39 years of operations, owing $16.3 million.

The company was founded in 1985 and, just last July, unveiled plans to relocate its stores in Sydney and Melbourne as part of an “ongoing transformation”.

Citing documents lodged with the Australian Securities and Investments Commission (ASIC), News.com.au reported that the company owes more than 90 creditors, including Victoria Beckham’s company, owed $30,000.

Harrolds also owes two of Tom Ford’s companies $33,000, American designer Thom Browne $253,000, Versace over $1000 and Stella McCartney $853.

Moreover, Harrolds owes its employees more than $190,000, menswear designer Feng Chen Wang nearly $35,000, Italian shoe brand Mach & Mach $67,000 and another Italian luxury brand Raffaele Curso $133,000.

Harrolds owes the Australian Taxation Office more than $2.3 million.

SMB Advisory acts as the liquidator.