Skint Katie Price to close her failing fashion business as she desperately fights off bankruptcy

SKINT Katie Price has been dealt another blow after she closed down her failing fashion business.

The former glamour model closed down her clothing company KP Boutique, which has flopped and has a paltry £13 in the bank.

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According to official papers, Price, 40, has given up on the venture and has formally applied to have the company wound up this week.

She launched the brand in 2016 with the idea of selling a range of loungewear items which she would model and promote herself.

But two years on, the business has flopped and in July she quit her position as company director.

Katie is currently desperately trying to fight off bankruptcy after frittering away her fortune, which was once estimated at £40 million.

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She recently applied for an Individual Voluntary Agreement in which she offered to pay back the £150,000 she owes at the rate of £1,000-a-month – meaning she will be 52 by the time she is clear of the debt.

The Sun Online revealed today/yesterday Katie suffered another financial blow after being told she “still owes ex Kieran Hayler tens of thousands” in their divorce.

The cash strapped star, whose bankruptcy hearing has been pushed back to December 4, asked the former stripper for a quickie £300 divorce online – but he refused.

And on Monday she was pictured clearing out her £2 million mansion in Sussex, which is up for sale.

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