Katie Price is having to flog her house, thanks to spiralling debts and, er, pricey exes
She’s ‘broke’ – but still blowing the cash
Her famous adage may be to “Never underestimate the Pricey”, but clearly, Katie Price hasn’t been listening to her own advice. We’re told she’s been throwing away cash like it’s yesterday’s husband, racking up huge debts on online purchases and failing businesses. Now, insiders say she could be heading for bankruptcy – and that’s before we even consider the amount of money she’s paying out to her exes.
“Katie’s currently earning less than a farmer, but is living the life of a millionaire,” a source tells heat. “The only way she knows how to make money is to sell herself or sell clothes, and no one wants either at the moment.
“Her Closet Store on ebay has been doing so badly, she’s not even bothering to update it any more, and the deals she’s doing with clothing companies for promotions on her social media don’t even run into the hundreds. In one case, she was given a free pair of knickers as payment.”
Last week, it was reported that the cash-strapped star was having to sell her Sussex mansion, which is thought to be worth £2million, to try and rescue her dwindling finances. This comes after Katie decided to sell off her animals, including her horses, llamas and sheep. Meanwhile, her business ventures are crashing: last year, her company Jordan Trading Ltd was dissolved in order to pay off a massive tax bill, while earlier this
‘she has no idea how close she is to going bankrupt’
year, she also closed Marvellous Creative Group Limited and Pricey Media.
But despite her financial woes, we’re told the 40 year old is continuing to blow cash on internet shopping sprees and paying off her ex-husbands.
Katie’s behaviour is being closely monitored by ex-husband Peter Andre, who currently has their children Junior and Princess living with him full-time. She’s also being sued by her second husband Alex Reid, after she shared indecent images and a video of him earlier this year. Then, of course, there’s third husband Kieran Hayler who, we’re told, is also after a payout.
“Katie has no idea how close she could be to going bankrupt, and her exes’ demands will only add to this,” the insider adds. “Her lawyers are fighting numerous battles. It looks like they’re going to have to pay damages to Alex to avoid court, give Kieran a lump sum plus a weekly allowance, and carry on giving Pete his payments as part of their divorce and custody agreements. Meanwhile, she’s constantly ordering stuff online. She says it’s exciting, but she’s got no regular income at the moment. She has a room in her house that is stacked high with unused shoes, bags and clothes.”
No doubt this is a trying time for the reality star, who was once worth an estimated £45million. But despite the financial issues, she’s not exactly making shrewd investments. As you can see from her outgoings listed above, she’s downsizing on the irrelevant things, like an actual home, in order to maintain a certain, non-negotiable lifestyle. Because what good are bricks and mortar if you don’t have weekly facials and mani-pedis?