Luxury fashion resale marketplace Luxe Collective has announced that it is closing down after seven years in business.

"I never thought I’d have to say this, but the company I created 7 years ago at just 18 years old will no longer exist. After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day. We are no longer able to continue. The last year has been the most painful in my life and to be truly honest, whilst I’m talking to you now, I’m overwhelmed with relief - I’ve never been so mentally and physically drained, stressed and anxious," said Luxe Collective co-founder and chief executive Ben Gallagher.