KATE Garraway has received a much-needed financial boost amid her desperate struggle to repay huge debts.
The star was faced with following husband Derek’s death from covid-related illness early last year.
The cost of caring for Derek during his four-year health nightmare ran into hundreds of thousands of pounds.
At the same time, – which was jointly controlled by Kate – went bust owing hundreds of thousands to creditors, including a huge sum to HMRC.
A new liquidator’s report reveals how as well as a more palatable revised total.
HMRC has submitted a preferential claim of £288,054, a third of its previous submission of £716,822. It’s not known why the HMRC have dramatically dropped their demand.
There are also creditor claims of and £196,548 from four other firms including a £50,000 bank loan.
However, at this stage, there will be no pay out for any creditor after liquidator fees of £32k and 40 per cent of assets have been realised.
So far, Kate has paid back £21,000.
A representative for Kate said: “Kate has met all that the liquidatiors of Derek’s company have asked for and more over the past four years.
“She doesn’t recognise these figures and is shocked that’s it’s being presented in this way by them.
“Caring for Derek and supporting her family when Derek could no longer run his own businesses has taken a huge financial toll on her but she’s determined to put things right.
“She is in constant contact with HMRC to make sure she honours what’s required from all Derek’s now defunct company.”;;
Kate and Derek’s financial issues go back further than the pandemic.
In 2012, two other firms they jointly controlled went bust.
Fulfill Media Ltd had debts totalling £922,807, which included £88,486 owed to HMRC, £90,882 to trade creditors, and £462,808 in “third party loans”;;.
At the same time, Countrymouse Media Ltd, was liquidated owing £189,121, which included £98,944 to the taxman and £48,000 on an overdrawn directors loan account. Derek and Kate were both personally owed £24k each by the business.
Last year, it was reported that Kate may have to sell the home to repay the debts with one source saying: “It is so sad for Kate. Not only has she had to watch her beloved husband suffer for almost four years but her financial worries have never been far away from her thoughts.
“It has cost hundreds of thousands of pounds to look after Derek and do everything she could to get him better but it’s left her struggling.
“The house is about all she has left financially and she is now facing up to the fact it might have to be sold.
“It’s where she and Derek were so happy and also where her two children grew up – but bills are bills and they have to be paid. It’s dreadful for Kate.”;;
