Katie Price, once a highly successful glamour model with a net worth of around £40 million, has seen her fortune dwindle dramatically. This culminated in repeated bankruptcies and a financial collapse that has left many questioning how she ended up in this situation.

In March 2023, Price declared bankruptcy over an unpaid tax bill of £761,994.05, marking the third time she has declared bankruptcy in five years. The HMRC demanded payment in October 2023, covering self-assessments for 2020-2021 and 2021-2022, including income VAT, tax, surcharges, and interest. During a London’s Rolls Building hearing, insolvency and Companies Court Judge Sebastian Prentis stated, “There is a substantial debt due from Ms Price to HMRC, and therefore, I…

Akasha Brewing Company have emerged from voluntary administration following their creditors accepting a Deed of Company Arrangement from the brewery’s directors.

The Sydney brewery appointed Henry McKenna of Vincents as administrators on March 20, with Akasha saying it came as a result of declining customer demand, excise tax payments and a significant increase in excise tax. 

In a media statement, founder and CEO Dave Padden said the restructuring sees the brewery in a stronger position to compete in the challenging market.

“This has been a very challenging time, but we have been humbled by the outpouring of support from our investors, customers and suppliers,” Dave said. 

“We are more determined than ever to ensure the success…

Hundreds of former Rex employees could face an even longer wait to be paid their entitlements after administrators applied for an extension to find a buyer for the airline.

Rex entered voluntary administration on July 30, with representatives from consulting firm Ernst & Young (EY) appointed after the airline permanently grounded its fleet of Boeing 737s that operated on major capital city routes.

Documents filed in the Federal Court on Wednesday stated that administrators were requesting the convening period be extended until November 25 to give them more time to finalise the sales process for the airline, which is $500 million in debt.

A sales period for Rex officially began on August 9 following the first creditors’ meeting, with…

Constance Hall has put her online fashion business into voluntary administration, revealing she was “drowning” in stress.

The mummy blogger took to social media on Thursday to announce to her 1.3 million followers she would be shutting down the inclusive Queen The Label over an outstanding loan and tax bill.

“I have put Queen The Label into voluntary administration,” she wrote in her social media post.

“I’m still coming to terms with losing the companies 300k subscribers and my car and the original investment of money. But this is the price for freedom and peace of mind.”

The 40-year-old said it was a “hard pill to swallow” but that she had “nothing left”.

“It’s broken my heart, I started the brand on revenue from…

Constance Hall, a Perth-based mummy blogger and influencer who runs online fashion business Queen The Label, shared the news on Facebook on Thursday night, revealing she’d been “dreading” it.

“It’s broken my heart, I started the brand on revenue from my books and to have nothing left is a really tough pill to swallow. I feel like one of those cliches that wins lotto and then has nothing left a decade later,” she said in a Facebook post.

Hall said she’d been “stressed out for 7 years” and had not been giving her six children the “time they deserve” or “enjoying (her) life while the…

GREELEY —  After a tumultuous year of trying to get out from under a mountain of debt — some of which was derived from alleged deceptive practices by lenders — a local civil construction and project management company has sought Chapter 11 bankruptcy protection.

Open Range Services Inc. filed for bankruptcy reorganization on July 31 while facing several lawsuits for unpaid loans, federal and state tax liens, mountains of credit card debt and unpaid bills.

In the bankruptcy proceeding, Open Range president Jason Gant reports that the company has $10.3 million in liabilities, about double what the company reports in bankruptcy documents as revenue last year, and dwarfing the $1.3 million in revenue the company recorded in the…

The Osborne Park building company, which mainly constructed single-storey houses, appointed liquidators on Sunday.

According to Western Australia’s Building and Energy department, the company is yet to complete 24 projects.

Building and Energy executive director Peter Stewart said homeowners with incomplete or defective projects should contact QBE to discuss their home indemnity insurance policy.

“Home indemnity insurance provides financial protection for homeowners in situations such as the insolvency of their builder,” he said.

“Contacting the insurance provider enables homeowners to begin the…

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