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Rex Features
Sadie Frost's fashion company FrostFrench has entered administration, say reports.
According to The Mirror, the firm owed one creditor £3.3 million and registered debts of £363,378 in 2006.
The business is owned by Frost and her friend Jemima French. The pair have now developed a second company to recover their finances.
A source commented: "Sadie and Jemima were both absolutely devastated when they realised the company was heading into administration.
"They've put their heart and soul into FrostFrench for the past nine years so neither were prepared to go down without a fight.
"As a result they have set up a new company to invest in the label - and to pay back some of the money they owe."
A FrostFrench representative said: "Sadie and Jemima are looking forward to returning to the creative and business helm of the label."
