The Duchess of York is reportedly fighting off the threat of bankruptcy after amassing more than £2million in debts.
Sarah Ferguson is believed to owe around £2m to creditors and, although she claims to have paid off all personal debts, a spokesperson for the Duchess said that bankruptcy “was an option”. It is thought that her debts may relate to her business interests, both in the UK and US.
Sarah Ferguson issued the statement following reports in the Sunday Telegraph claiming that she owed around £5m in both personal and business debt. The paper claimed that the matter had been discussed by David Cameron and the Queen, who had become “deeply concerned” about the state of the Duchess’s finances.
However her spokesman dismissed the figures as “significantly” exaggerated. “There is a number of options open to the Duchess of which bankruptcy is one,” he said. “But it would be premature to say she is going into bankruptcy as the situation is being managed.”
Her debts mounted after the collapse of her American business venture and a lucrative contract with Weight Watchers ended. Ferguson’s other business interests include endorsement contracts with Wedgwood china and Avon.
Similar Posts:
- Personal Bankruptcy and Business Formation
- A Business Owners Guide To Loan Consolidation
- Football Legend Dermontti Dawson Files for Chapter 7 Bankruptcy
- T-Boz’s third bankruptcy dismissed by judge
- A Few Different Debt Consolidation Options
Tags: York