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Tuesday 14th July 2020

Katie Price 'faces financial woes as her clothing company KDC Trading closes down'

She was once said to have been worth £40 million

Former glamour model Katie Price is reportedly facing more financial woes this week as her company KDC Trading officially shuts down.

According to The Sun, the business will close down today (June 12) after Katie failed to file accounts for the struggling firm since 2017.

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The paper reported that Katie received a warning in April that KDC Trading, which sold the mum-of-five's equestrian range, was set to be dissolved unless Companies House received the overdue books.

It also claimed that the business had debts of £22,000 showing in its books for the year ending April 2017.

Elsewhere, liquidators have reportedly been brought in to break up another of Katie's businesses called Jordan Trading Ltd, which The Sun claims handled cash from products ranging from clothing to perfumes.

According to the publication, Katie took a loan of £154,000 from the firm before it started struggling and is unable to pay it back, along with a further £192,000 owed to HMRC.

If she is found guilty of wrong-doing in running the firm as its only director, she could be banned from serving as a company director for as long as 15 years.

ED! has reached out to Katie's reps for comment.

The former I'm A Celebrity … Get Me Out Of Here! star was once said to be worth more than £40 million.

But in December, Katie avoided bankruptcy after reaching a deal with her creditors.

A specialist insolvency and companies court in London was told the star had agreed a plan to pay back what she owes, after she was given time to reach an agreement at an earlier hearing.

Despite her money woes, Katie reportedly splashed out four figures on a new German Shepherd puppy at the start of the year.

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She is believed to have bought the pup as a gift to herself, as she was missing the company of pets she had to sell to make ends meet.

It follows her high profile split with third husband Kieran Hayler, with whom she shares two children - Jett, five, and Bunny, four.

Kieran has since moved on with new partner Michelle Penticost, although he told New! magazine in a recent interview that a "friendship" still exists between him and Katie.

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