Worries have grown over the extent of The Duchess of York’s debt problems, after her lifestyle and promotions company folded owing over a million dollars.
Sarah Ferguson’s Hartmoor company was launched in 2006 in New York’s swanky Madison Avenue, but has folded after only a couple of years trading with substantial debts.
A spokesman for the Duchess said: “She has faced some challenging and difficult times with one side of her business, Hartmoor, but she is very resilient, will work through the situation and bounce back from this.”
A few weeks ago, the ex-Princess was taken to court over a number of other unsettled bills in the UK and had to deny any talk of financial difficulties.
Recently she has also lost out on high paid contracts, after her £2 million pounds a year contract with Weight Watchers came to an end and she lost work with Wedgewood.
Ivan Cooper, Chairman at debt advice specialists Chiltern, said: “Sarah Ferguson isn’t the first member of the royal family to suffer with debt management issues. Throughout history kings and knights of the realm have been made bankrupt after suffering with debt problems.
“Ms Ferguson could avoid bankruptcy by seeking impartial advice from a reputable company, sooner rather than later, if it does turn out that she may have difficulty maintaining her current credit commitments.”
