The eponymous fashion label of the late L’Wren Scott is closing down. More than a year after her tragic death, LS Fashion Ltd., the British brand created by Mick Jaggers girlfriend, is being terminated. The director of the company, John Hoffman, applied in May to have the company struck off the British government’s register.

The news follows months of speculation that the line was set to fold. There were reports last year claiming the label was deeply in debt and running at a loss of 3.5 million British pounds (about $5.5 million). At the time the company released a statement denying the rumors. “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,” it read.

Scott, a former model and stylist, launched her label in 2006 and it became known for its feminine, tailored designs. The American stylist enjoyed success with her work. Her designs were favored by celebrities including Angelina Jolie, Madonna, Penelope Cruz and Sarah Jessica Parker.

Jagger recently paid a touching tribute to Scott, wearing one of her designs during a performance by the Rolling Stones as they kicked off their North American tour. The 71-year-old chose a colorful red feathered cape that Scott created for him for a previous performance, as he took the stage to sing “You Can’t Always Get What You Want.” A source close to the band said it was one of her favorite pieces that she had designed for Jagger, so he wore it as a special tribute to her.

The singer also remembered his late partner on what would have been her 51st birthday, posting a black-and-white photograph on Twitter of a youthful L’Wren. Around the time of Scott’s death in March last year, a spokesman for the late designer’s business had noted that the British company was a subsidiary of the U.S. parent company, which was then listed in Delaware. WWD had sent requests for comment to representatives of the company, but they didn’t respond.