Kate Garraway suffers fresh financial blow as her media company reports losses of £288,000 last year after she was forced to sell £2M second home to pay off £800,000 debt from caring for late husband Derek Draper

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Kate Garraway has suffered another setback financially, as it was disclosed that her media company is nearly £300,000 in debt. This new predicament adds to her financial hardships that arose after the passing of her husband, Derek Draper.

The television host, aged 58, accumulated a £800,000 debt while looking after her husband who bravely battled Covid-19 for four years and sadly passed away in January the previous year.

Since then, Kate’s had to offload her second property due to financial obligations, suggesting that her monetary troubles may not be fully resolved just yet.

In the year 2024, the media-focused business established by her in 2021 experienced a loss of approximately £288,122.

The financial reports submitted to Companies House for Praespero 100 Ltd indicate a substantial decline over the past two years. Specifically, the company reported losses amounting to £165,011 in the year 2023, following a surplus of £36,888 in the previous year 2022.

The company where Kate holds the sole leadership position is known for operating within multiple sectors. These include radio and TV broadcasting, television program production, and general broadcasting operations. Additionally, it offers consulting services in areas other than financial management.

Daily Mail have contacted representatives for Kate for comment.

The star of Good Morning Britain has recently experienced another financial setback, as they are currently dealing with company debts following the collapse of Derek’s psychotherapy firm, Astra Aspera Ltd. This unfortunate event left numerous creditors, including HMRC, owed substantial amounts of money.

It emerged last month that Kate needed to part ways with her beautiful three-bedroom, four-story townhouse situated in Islington, North London, a property the couple acquired in 2004 for £550,000.

The £6,750-per-month rental property is currently undergoing a sale, as verified by the Land Registry Office. It’s expected to sell for approximately £2 million.

Last January, it was reported by The Mail on Sunday that Kate might need to sell her five-bedroom family house in Muswell Hill. However, it seems she managed to avoid that situation by selling one of her properties instead.

At the given time, a report stated: ‘Kate must have felt deeply saddened. Not only did she endure nearly four years of witnessing her cherished spouse’s suffering, but her ongoing financial concerns were always a constant burden on her mind.’

Despite spending hundreds of thousands of pounds on Derek’s care and tirelessly working towards his recovery, she finds herself facing financial hardships.

She’s come to terms with the reality that, due to her current financial situation, she may need to sell her home, which is virtually all she owns.

According to the rental listing for her Islington pad, it has a roof terrace and private garden.

This 3-bedroom terraced house, tastefully decorated, combines contemporary life and classic appeal, making it an excellent choice for individuals desiring comfort, elegance, and location. The property, divided over four generously sized levels, caters to those who appreciate space and a mix of modernity and history.

On the ground level, you’ll find a cozy and inviting living room boasting authentic elements and plenty of room to unwind or host gatherings. The sleek, practical kitchen is equipped with modern amenities and opens up directly to a secluded garden, ideal for alfresco dining or simply enjoying some fresh air.

As a devoted follower, I’m excited to share that the first and second floors are home to generously-sized bedrooms, each filled with ample sunlight streaming in through the windows and clever built-in storage solutions. The highest floor boasts an awe-inspiring rooftop terrace offering breathtaking views of London, creating an ideal setting for unwinding or hosting friends.

An identical property on the same street sold for £1.865M in June last year.

In the latest report by the liquidator for Astra Aspera Ltd, it is evident that Kate has been actively working towards settling some of her outstanding debts, while the HMRC (Her Majesty’s Revenue and Customs Service) has significantly reduced its tax claim against her.

As a diligent follower, I’d like to share that the directors’ loan account had an overdraft of approximately £139,849. However, during this period, Greenfield Recovery, our appointed liquidator, took action by hiring The Wilkes Partnership solicitors to aid in the recovery efforts. Fortunately, we’ve managed to recover a sum of £21,000 as part of these efforts, which I’m reporting here.

Based on the most recent report from the liquidator, HMRC (Her Majesty’s Revenue and Customs) has put forward a fresh priority claim amounting to £288,054.

In simpler terms, this new submission amounts to only one-third of the initial £716,822 they previously requested. However, the reason behind HMRC reducing their demand remains uncertain.

In addition to the existing debts, there are claims by four other companies totaling £196,548, which includes a £50,000 loan from a bank. It seems unlikely that the creditors will receive any payments.

In 2012, two other companies jointly controlled by Kate and Derek were wound up by creditors.

It’s evident that Fulfill Media Ltd carried a total debt of £922,807. This amount encompassed £88,486 owed to HMRC, £90,882 due to trade creditors, and £462,808 in loans from third parties.

CountryMouse Media Limited, a company that owed £189,121 upon liquidation, had debts that consisted of £98,944 due to the tax authorities and a £48,000 deficit in the directors’ loan account.

Derek and Kate were both personally owed £24k each by the business.

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2025-09-01 03:50