Karen Millen, the fashion designer who for 20 years helped to define what women wore to work, has been declared bankrupt over unpaid tax.
Ms Millen, who was appointed OBE in 2008, failed to pay a demand from Revenue & Customs of about £6 million arising from her involvement in a tax avoidance scheme.
Ms Millen, 55, was declared bankrupt at the High Court on Tuesday. She faces losing her £3 million home in Kent as well as any secondary properties, cars and other valuables.
Ms Millen said she was deeply devastated. She claimed she had been a victim of fraud by Kaupthing, the collapsed Icelandic bank, which financed the buyer of her business in 2004 for £95 million.
Kaupthin…
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