VICTORIA BECKHAM has reportedly been threatened with the closure of her fashion business for not submitting her accounts on time.
Victoria Beckham Limited, which encompasses the designer’s fashion business and her personal brand, has been formally warned it could be closed down for failing to file its accounts on time for the third year running, reports the Daily Mail.
According to editors at the news outlet, the former Spice Girl, who set up her fashion empire in 2008, was served with a “notice of compulsory strike-off’ by Companies House on 6 December (16).
“Unless cause is shown to the contrary,” the letter allegedly stated, “Victoria Beckham Limited will be struck off the register and the company will be dissolved,” by February (17) and all the company’s property would “belong to the Crown”.
Victoria Beckham Ltd was established with her former soccer player husband David as a director. It generated a turnover of more than $42 million (£34 million) but only registered a pre-tax profit of $1.47 million (£1.2 million) thanks to $6.4 million (£5.2 million) generated by David disclosed on her company’s books under the heading “discontinued operations”.
A spokesman for the Beckhams declined to comment on the Daily Mail’s report, however a source close to the couple insists the business is not at risk.
“They have been sent to Companies House, but I understand that there is a backlog,” the source said. “There are no financial problems. This late filing has not impacted the business in any way.”
The news outlet reports parent company Beckham Brand Holdings Ltd, established in 2014 with David as a director, was also served with a strike-off notice, on 13 December (16).
The news comes as it was recently revealed the former pop star is set to be honoured as an Order of the British Empire (OBE) in the New Year Honours for her contributions to fashion and charity work.