Katie Price has reached a significant financial milestone as one of her two bankruptcy orders was officially discharged following a court hearing in London.
However, despite this progress, the former glamour model remains in substantial debt, still owing HMRC a staggering £750,000
The 46-year-old reality star and entrepreneur, who has been struggling with financial difficulties for years,
was first declared bankrupt in 2019 after failing to manage mounting debts.
This was followed by a second bankruptcy declaration in 2023 over unpaid taxes, which is still in effect.
Court Decision on First Bankruptcy
Price did not attend the hearing at the Insolvency and Companies Court, where Judge Sebastian Prentis lifted the suspension on the automatic discharge of her first bankruptcy.
Typically, bankruptcy orders in England and Wales conclude within a year, but in Price’s case, the discharge was delayed due to ongoing investigations into her financial affairs.
Barrister Darragh Connell, representing the trustee overseeing her bankruptcy cases, confirmed that the public examination into her first bankruptcy could now be formally closed.
However, Price’s financial troubles are far from over. She remains subject to her second bankruptcy, and a further court hearing is scheduled for April 8, where she will be required to answer questions about her finances.
The Sale of the ‘Mucky Mansion’
As part of her efforts to manage her debts, Price was forced to sell her infamous £2 million home, known as the Mucky Mansion. The nine-bedroom property, which had been featured in a Channel 4 renovation series, was originally listed for £1.5 million but ultimately sold for just £1.15 million.
Despite the sale, Price did not personally benefit from the transaction, as the proceeds were used to cover outstanding debts tied to the property. She had previously been served an eviction notice for failing to make mortgage payments, leading to her departure in May last year.
Price has since moved into a four-bedroom home in Sussex.
Ongoing Financial Obligations
Under the terms of her first bankruptcy, declared in 2019, Price is required to allocate 40% of her monthly income from her OnlyFans account toward repaying her debts until February 2027.
Following her second bankruptcy in 2023, she must continue making payments from her earnings on the platform while the bankruptcy remains active.
Price was originally scheduled to attend a public examination regarding her financial affairs last August. However, after missing multiple hearings, a judge issued a warrant for her arrest in July.
She was later permitted to attend a private interview in September, which provided sufficient details to avoid the need for a public examination regarding her first bankruptcy.
With her second bankruptcy case still under review, there remains the possibility of an application to suspend its discharge, though no formal decision has been made.
Public Performances and Lifestyle
Despite her ongoing financial struggles, Price has continued to maintain a public presence. Over the weekend, she was spotted performing at Butlins Minehead Resort in Somerset. Dressed in a bejeweled jumpsuit, she took the stage to belt out 90s classics as part of the resort’s Sunday Singalong sessions.
Although Price has previously admitted that she is “not a singer,” she has been promoting her Big Bangers show, which encourages audiences to join in on popular hits. However, audience members reportedly had mixed reactions to her performance.
In addition to her stage appearances, Price recently traveled to Turkey for cosmetic procedures, including her sixth facelift and ear pinning surgery. The trip added to her history of aesthetic enhancements, which have been widely documented throughout her career.
What’s Next for Katie Price?
With one bankruptcy case now resolved, Price is one step closer to financial recovery. However, her unpaid tax bill of £750,000 and the ongoing inquiry into her second bankruptcy suggest that her legal and financial challenges are far from over.
Her upcoming court appearance in April will be crucial in determining the next steps in her financial battle. Meanwhile, she continues to work on multiple projects, from social media content and reality TV to live performances, in an effort to regain financial stability.
For now, the former model remains in the public eye, balancing her debts with her efforts to maintain a career in entertainment. Whether she will be able to turn her fortunes around remains to be seen.
