Katie Price faces more financial woes as her clothing company officially shuts down today

Katie Price faces more financial woes as her clothing company officially shuts down today

KATIE Price faces more financial woe as her clothing company will officially shut down today.
KDC Trading, which sold her equestrian and clothing lines, has been struck off by government officials after she failed to file any accounts for the ailing business since 2017.
3 Katie Price faces more financial issues as one of her companies gets shut downCredit: Splash News
The 41-year-old, who narrowly avoided bankruptcy last year, was warned in April the firm would be dissolved unless its books were received by Companies House.
Now the star, who was once worth £40million, has been told the deadline has passed and the firm will be broken up and any money left in its coffers will go to the Treasury.
Books for the period ending April 2017 show debts of £22,000.
Katie, who launched two new clothing lines this year, is also being probed by the government over the collapse of another firm which sank with big debts.
3 KDC Trading sold Katie’s equestrian and clothing linesCredit: Getty – Contributor
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Liquidators have been brought in to break up Jordan Trading Ltd – which handled cash from a range of products including clothing and perfume lines – with Katie owing a total of £2.1 million.
A liquidator’s report into Jordan Trading shows that Katie took out a £154,000 loan from the firm before it went belly-up which she cannot repay and she also owes the tax man £192,000.
Her conduct as the firm’s sole director is being looked at by a government department.
If any wrong-doing in the running of the outfit is discovered she risks being banned from being a company director for up to 15 years.
3 Katie failed to file any accounts for ailing business the company since 2017Credit: Getty – Contributor
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Katie, who split from her third husband Kieran Hayler last year, avoided bankruptcy at a High Court hearing in December, when she was allowed to enter into the Individual Voluntary Arrangement, a deal to pay back some of her debts.
Jordan Trading was set up in 2003 and at the height of her earning power ten years ago.
She’s been ordered to pay her creditors within four years or her nine-bedroom mansion will be forcibly put up for auction to cover the debts.
But she will only have to pay back 41 percent of what she actually owes — the equivalent of £856,358 — in monthly instalments.
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