Location Location Location star Kirstie Allsopp shuts down company with £106k debt as she apologises to fans | The SunMay 24, 2023
PROPERTY guru Kirstie Allsopp's company for kids has been shut down with £106k worth of outstanding debt.
Kirstie, 51, is famed for being a winner of the real estate market thanks to her property shows, including Location, Location, Location with co-star Phil Spencer.
But unfortunately, the working mum has found it tough going with her range of children's furniture and toys and admits she's shed "one or two tears" over it.
The Sun Online can reveal that Kirstie's firm, Gorgeous Little Things For Children appointed a liquidator on Monday after rattling up numerous debts.
The outstanding monies included £16,986 to HMRC, £55,146 to the bank, £4,888 to trade creditors and a further £29,462 is owed to Kirstie personally as the sole director.
This amounts to £106,484, but could rise as the liquidator’s statement of affairs says it’s uncertain how much is currently owed to employees.
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Sadly, the firm has virtually no assets to release – just £1,300 in stock and furniture.
A contrite Kirstie took to the business’s Facebook page last month to explain why the firm was being wound up after nearly a decade in business.
The star blamed rising costs, leaving her with little choice but to go into a creditor’s voluntary liquidation. This occurs when the director voluntarily folds a firm due to its hopeless financial position.
Kirstie told her followers: "When I started this business way back in 2013 it was a side hustle, something for a little extra pre-Christmas cash alongside my day job. A mum of two just trying her hand at something different.
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"Never in a million years did I think that it would turn into this fabulous business that enabled me (after becoming a mum of 4) to give up my secure day job and enter fully the fabulous world of children's retail. However now after 9 1/2 years its sadly time to say goodbye.
"Thank you to all of you amazing people that have supported and encouraged me on this journey, who have bought from me, recommended me, worked for me, listened to my mad brained ideas and generally been there!
"After over 25,000 orders, over a million conversations, hundreds of photos of happy purchases and one or two tears its time to go."
Kirstie added: "I have loved every single day of doing this, the community and the friendships formed.
"I'm not disappearing entirely; you can still support my fabulous furniture business @gorgeouslittlethingsforhome if you would like to see where that journey takes me next.
"Sadly for Gorgeous Little Things for Children Ltd, the cost of products, the increasing warehouse and supplier costs and everything else has just made it unable to continue (despite fighting and fighting).
"Thank you from the bottom of my heart for supporting me over the years. Kirstie x."
Kirstie's career in property began when she launched her own home search company, Kimir, in 1996.
The company was focused on exclusive, high-end homes in central and west London.
As of 2023, Kirstie has a reported net worth of around £16million.
Her TV presenting and property interests are believed to pay her about £500,000 a year.
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She is the eldest child of Charles Henry Allsopp, 6th Baron Hindlip – and her somewhat privileged childhood helped her buy her first flat when she was just 21.
Charles was the former chairman of iconic London auction house Christie's – and his peerage also means Kirstie is allowed to use the title "The Honourable".
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