KATIE Price is launching a new money-spinning beauty brand as she continues to rebuild her empire following bankruptcy.
Katie, 42, has registered a new business venture called KP Katie Limited and listed herself as a director with Companies House.
The mum-of-five has teamed up with her Scented By Katie Price business partner for the new project.
The pair currently sell bath bombs, candles and relaxing sprays together.
When contacted about her new business, a rep for Katie told The Sun Online: "Katie Price's new lines are in development."
Katie is working hard to build back her fortune after being declared bankrupt in November 2019.
The star was once worth an incredible £45million.
Katie had tried to avoid bankruptcy by agreeing a plan to pay back money she owed to creditors.
But she found herself unable to stick to the terms of the agreement, so faced no other option than to declare herself bankrupt.
Since then, however, Katie has thrown herself into numerous money-making projects and businesses to rebuild her finances.
Along with her Scented By Katie Price bath bomb company, she is has clothing lines with Carvella UK, JYY London and her own children's boutique Princess & Bunny.
Katie flogs her own clothes, shoes, accessories via the online fashion marketplace DEPOP to make cash.
She also lists her kids clothes for as little as £3 an item and even sold her old sofa for £1,500 on the website.
The star makes a regular income from numerous paid partnerships on social media and has flogged personalised video messages to fans for £150 each.
WHAT IS BANKRUPTCY AND HOW DOES IT AFFECT YOU
WHEN you’re declared bankrupt your bank account may be frozen immediately and any items of value that you own, such as a house or car, may be taken away from you.
A person called an Official Receiver or Trustee is put in charge of your assets.
You will have to ask them before you spend money and you will only be given basic living expenses during the period of bankruptcy.
You are usually discharged from bankruptcy after 12months – but sometimes this can last longer.
For example, when Kerry Katona was declared bankrupt for the first time in 2013 it took over two years for her to get discharged.
You can’t borrow more than £500 without declaring your bankruptcy status, which makes it highly unlikely that you’ll be able to be accepted for credit.
Your home may be taken away from you and sold – but you may be given 12 months to find a new place.
You will be allowed to keep a car if its essential to your work, as well as clothing, basic household items, and bedding.
But if furniture is expensive then you may be told to replace this with cheaper alternatives.
Any money you make from the sale of items is then paid to your creditors.
Your credit score will be negatively affected too. A bankruptcy will stay on your record for at least 6 years and it could be as long as 15 years if you are subject to restrictions.
If you apply for bankruptcy it costs £680 but if a creditor – a firm which you owe money to – goes bankrupt then you won’t have to pay the fees.
Earlier this week, Katie earned a cool £5,000 by hosting a virtual Girls Night In with fans on Zoom.
She has appeared on Channel 4 show Steph's Packed Lunch several times in recent weeks and landed her own three-part documentary series.
The mini-series will see the former glamour model learn to be a Volunteer Emergency Responder and it comes after the success of her deeply personal BBC documentary, Katie Price: Harvey and Me.
Source: Read Full Article