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How Katie Price blew £45m to be left bankrupt and facing homelessness
KATIE Price’s £45 million fortune has been blown on plastic surgery, her mucky mansion and luxury holidays.
Yesterday Katie was declared bankrupt after failing to pay back spiralling debts and now faces losing her £2million home and land, which was intended to be a working farm.
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The 41-year-old was supposed to be paying off £12,000 a month to her creditors after taking out an individual voluntary arrangement (IVA) 12 months ago - but failed to do so.
Her home was in the process of being renovated with the hopes of building a new gym and beauty studio along with a horse exercise arena, but could now be taken.
We take a closer look at exactly what Katie has spent her £45 million fortune on.
HER FARM
Despite buying some of the best agricultural machinery on the market, worth hundreds of thousands of pounds, she has never got anything out of it apart from a few hens’ eggs.
She also bought her former husband, Kieran Hayler - who worked on the farm full-time - a milking machine costing £40,000, a tractor at £80,000, and a customised £70,000 Land Rover.
The Sun previously how the star was selling off her animals in a bid to raise funds.
It’s just one of Katie’s many doomed business ventures, which have left her on the verge of bankruptcy.
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HER MORTGAGE
According to our source, the mortgage on her house is in excess of £1million, with over £100,000 in arrears.
However the mother-of-five struggled to afford the arrears and £10,000 a month repayments.
Katie Price reveals her messy house on Through The Key Hole
HER BILLS
The bigger the house, the bigger the bills and Katie's heating bill costs £25,000 a year, as our source says she hates the cold and has it on 24/7 even in summer.
Then there's the £120,000 on her army of housekeepers, gardeners and nannies, until she was told by brother Daniel she had to cut back.
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HER BUSINESSES
Katie launched a new business this year after all of others previously folding.
In March 2018, she launched a new clothing brand called House of KP, with her Australian manager Clarissa Mansbridge, but it’s now been taken offline and the Facebook site hasn’t been updated since April 1.
That’s after it was exposed by The Sun for selling Katie's clothes at hugely marked-up prices compared to other websites, which were selling her brand much cheaper.
She resigned from her other clothing firm, KP Boutique, on 13 June after it made just £13 in 2017.
Her other firm with active accounts is KDC Trading, which made a loss of £21,986 in 2017.
Katie's business history
KP Boutique - quit last week, used to be her main business, yet made 13 quid last year.
House of KP - launched in March 2018 but has now been taken offline.
KP Bling Ltd - launched three years ago and in May 2018, it’s company accounts said it had assets of just £100.
KDS Trading - had a deficit of £21,986 last year according to accounts from 30 Oct 2017.
Jordan Trading Ltd - liquidated in March 2017.
Pricey Media Ltd - made insolvent on 2 February 2018 owing substantial amounts to the taxman and other creditors.
Marvellous Creative Group Ltd - used for her TV productions - made insolvent on 2 February 2018 owing the taxman.
Katie Price Home - dissolved in May 2017.
Katie Price paints her wooden floors as she gives her home a fresh new look
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HER APPEARANCE
The former glamour model is believed to spend an absolute fortune on her appearance with regular facials, massages every other day and two pedicures and manicures a week!
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Katie's expensive beauty regime
Manicure & pedicure twice a week: £1500 a month
Hair once a week: £1000 a month
Facials once a week: £400 a month
Age reversing treatments: £500 a month
Massages every other day: £800 a month
Daily make up by on-the-payroll make-up artist: £800
Now, the broke star is having to come up with new money making schemes, along with her agent and business manager, brother Daniel.
This includes having cosmetic surgery live on TV and doing raunchy nude modelling.
But the problem with either is that it’s not going to make anything like what Katie needs to pay off her debts.
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Katie Price sharesclip of 'dead skin and hair' being removed in facial
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Our source adds: "She’s always dreamed of a Playboy shoot, always thought she’d get it in her hey-day, and now there’s absolutely no chance.
"She’s been looking at her old modelling shots, ruing the missed opportunity."
It’s so desperate that she’s making a pittance even from selling products on her Instagram, which used to net her tens of thousands, but now companies don’t want to touch her.
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