Fergie loan battle after firm crashes with £19m debts

DISPLAYING her trademark lack of inhibition, she’s just announced the launch of a podcast, promising that ‘no topic is off the table’ as she discusses ‘the highs and lows of everyday life’.

But will Sarah, Duchess of York, tackle what appears to be a new ‘low’ in her inimitable business career?

The question is prompted by the latest twist in the saga of Gate Ventures, the theatre investment company of which Fergie was a director until shortly before it was forced into administration in 2020 after apparently losing £19 million.

Liquidators, attempting to claw back money for creditors, have just filed a Progress Report, recording that a ‘settlement offer’ for an outstanding loan has been rejected.

The loan — previously stated to be for £233,000 — was made to Ginger & Moss, a company Fergie co-founded and of which she remains a director.

Prince Andrew’s ex-wife declines to comment, while the liquidators say only that ‘further discussions’ about the loan are ‘due’. A source close to Ginger & Moss tells me, ‘We have made repeated efforts to resolve this situation’, adding that they expect it to be ‘resolved in the coming weeks’.

Judge Sebastian Prentis put the company into administration after hearing that one of Gate’s past chairmen, Dr Johnny Hon, had invoiced the company for the ‘simply extraordinary sum’ of £4.7 million — including £2.9 million for meetings with ‘celebrities’.

The judge drew attention to a £12,293 bill for a meeting with footballer Paul Pogba, £6,500 for lunch with designer Tommy Hilfiger, and thousands more for lunch with Prince Albert of Monaco. He added that an hour’s ‘ training session’ with a Victoria’s Secret model might have been ‘a very invigorating occasion for everybody’, but concluded that it was not ‘immediately recognisable as company business’.

Fergie, 63, promises to have ‘special guests’ on her podcast and to leave ‘no stone unturned’.

Step forward, Dr Hon?