The star launched the Benjamin Bixby label in September (08) but the company is now said to be facing financial difficulties due to falling sales.

The business has reportedly seen profits plummet due to a combination of the international economic crisis, the label’s high prices, and soaring production costs, according to Wooha.com.

The collection, which contains 70 pieces, ranging from wide-brimmed fedora hats to pink sweatshirts, is now reportedly being sold off at vast discount in a bid to shift stock and boost profits.

Despite the setback, the Benjamin Bixby range has been nominated for GQ magazine’s Best New Menswear Designers Award, in which the winner will land a $50,000 cash prize and the chance to design a collection for jeans manufacturer Levi.

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