Katie Price has hit another snag in her ongoing battle with financial issues.
The sale of her infamous ‘Mucky Mansion’ has fallen through, dealing a significant blow to her efforts to resolve her money problems.
Despite finding a buyer for the £1.5 million property just weeks after her eviction due to unpaid mortgage, the nine-bedroom house is back on the market.
Financial Struggles Continue
The former glamour model, now 46, is grappling with a £750,000 tax debt and has been declared bankrupt twice in recent years.
She has squandered a multi-million-pound fortune over the past decade.
At a public hearing last month, Katie avoided discussing her finances publicly after her lawyer requested a private meeting due to her PTSD.
The High Court agreed, keeping the timing of this private meeting confidential.
Katie was warned to fully comply with court orders or face another arrest, having previously been jailed for missing a court hearing to undergo a £10,000 facelift in Turkey.
In May, bailiffs evicted her and her family from their West Sussex home after she failed to maintain mortgage payments.
Current Status of the Mansion
MailOnline has reached out to Katie’s representatives for an update on the mansion’s sale.
Purchased for £1.35 million in 2014 from former Tory peer Francis Maude, the property featured in a Channel Four series during Katie’s attempts to renovate it.
Following her departure, she described the house as ‘cursed,’ stating, ‘I’ve had nothing but bad memories in that house,’ and expressed hope that moving would signify a fresh start.
Before relisting the mansion, local estate agents HJ Burt cleaned up the property, which was described in their marketing as a potential ‘impressive family house.’
The listing highlighted features like three reception rooms, nine bedrooms, four bathrooms, and the possibility of restoring amenities such as a tennis court and swimming pool.
Financial History
Katie’s financial troubles began to surface significantly in 2019 when she was declared bankrupt with debts totaling £3.2 million from her failed company, Jordan Trading Ltd.
Initially established in 2003 to manage her perfume and cosmetics line, the company faced liquidation in 2017 as Katie struggled with her finances.
At the time of her bankruptcy, she promised to repay £12,000 a month to creditors, even though she was facing the loss of her £2 million mansion.
In 2022, Katie was set to appear at the Royal Court of Justice to explain her failure to repay millions owed to creditors.
However, the hearing was unexpectedly adjourned.
By March 2024, she was declared bankrupt again over an unpaid tax bill of £761,994.05, which included income VAT, tax, surcharges, and interest for the 2020-2021 and 2021-2022 periods.
Judge Sebastian Prentis at London’s Rolls Building confirmed the substantial debt due to HMRC and issued a bankruptcy order.
In May 2024, Katie faced eviction from her home after being served notice and given a deadline to vacate.
Bailiffs were scheduled to arrive on May 29 to ensure the property was emptied.
Looking Ahead
Katie’s financial situation remains precarious as she navigates these setbacks.
The next steps will likely involve further legal proceedings and attempts to stabilize her finances amidst ongoing public and media scrutiny.
TDPel Media
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