The Baroness Mone of Mayfair has sold her fledgling fake tan business.

The Glasgow-born businesswoman took to Twitter this week to make the announcement.

She said: “I’ve sold the biz @UTanAndTone please join the new owner live on @qvcuk tomorrow 9am,1pm,4pm&9pm Best self-tan of luck #selftan.”

READ MORE: Firm behind Michelle Mone's '£1m fake tan' worth less than £25,000

The move comes just weeks after the company behind the UTan range, Ubeauty Global, had net assets of just £23,636 in 2016, newly-lodged files at Companies House revealed.

The Tory peer previously claimed the UTan range cost £1 million to develop.

“It’s a great product. All the magazines are raving about it. I think it’s a real winner,” she said while explaining the history of UTan at a trade fair in July 2012.

UTan claims to be the original and very first tanning brand to combine skin toning and firming properties into self-tan solutions.

The site says the products were created with skin-care in mind, “a hate of pongy smelling tan, and a FEAR of orange hues.”

READ MORE: Michelle Mone to RETIRE in three years' time

Just two weeks ago, Lady Mone announced to one million-plus Twitter followers that she is to retire from the ‘business and speaking world’ in three years’ time.

The Glasgow-born businesswoman posted a picture of herself soaking up the sun with the caption: “When I sold my baby Ultimo I was retiring but set up many other businesses.

“I’ve decided to retire from the biz&speaking world in 3 years.”