amandawakeley_resigns.jpgA shock announcement overnight from British designer Amanda Wakeley. She has been forced to resign from her own label due to a recent takeover by Jason Granite, a former City trader with Deutsche Bank.

Wakeley issued the following statement yesterday, saying: "I have been advised that I will be no longer required and have tendered my resignation which has been accepted with immediate effect. I shall leave the company today."

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Already believed to have designed the label's 2009 collections, Wakeley began her company in 1990, attracting a host of A-list clients such as Scarlett Johansson, Dame Helen Mirren, and Kate Beckinsale. The label now boasts a flagship store in Fulham Road, London and is stocked at several major department stores including Harrods.

"It is the end of one chapter but the beginning of another. I have been overwhelmed by the warm messages of support in recent days and the many very kind offers to invest time (and money!) in the future. As a result, I am considering a variety of ideas which I look forward to developing in the New Year," she added.

The Telegraph reports that at least 13 of Wakeley's design team were made redundant yesterday, with the company expected to resume business under Granite's management.

Sad times, indeed.

[Photo: David Fisher/Rex Features]