Fergie’s Bankruptcy Woes: Will Former Duchess of York go Through with It?

Filed in Gather Celeb News Channel by on August 8, 2010 0 Comments

Will the former Duchess of York, Fergie file for bankruptcy? Fergie’s fighting to avoid bankruptcy but it may be a losing fight. The former Duchess of York owes millions and it’s only getting worse!

Apparently, the former Duchess of York has been able to pay off all her personal debt but her business debt is in question. Overall, her debt is revealed to be about $6.5 million even though her spokesperson said the figures were exaggerated. The spokesperson said the debt is closer to about $5 million.

IBritain's Duchess of York Sarah Ferguson attends a screening in Los Angeles in this October 5, 2006 file photo. The Duchess, caught on camera apparently offering to sell access to her ex-husband, UK trade envoy Prince Andrew, said Sunday she was sorry for her serious lapse in judgement. According to footage on the News of the World newspaper's website', Sarah Ferguson appears to ask for $40,000 in cash and 500,000 pounds ($718,500) by wire transfer, claiming she could introduce the undercover reporter to the prince. REUTERS/Mario Anzuoni/Files (UNITED STATES - Tags: ROYALS ENTERTAINMENT PROFILE HEADSHOT BUSINESS MEDIA)ts certainly interesting how people as famous as Ferguson is able to face bankruptcy. Perhaps the more money a person has, the higher the rate of mismanagement.

Take Nicolas Cage and his money woes, he owes almost as much as Fergie and he’s one of the most famous movie stars in the world.

It’s no surprise that the Queen is apparently “deeply concerned” about Sarah Ferguson’s debt and why wouldn’t she be?

Fergie was once a part of the royal family. Any negative attention she brings to herself is also a reflection of the royal family. However, it’s safe to say, at this point, Fergie may face bankruptcy but the royal family will probably never have to worry about that!

photo credit: REUTERS/Mario Anzuon

© Sophie S. Benvenuti – 2010

subscribe to my updates – RSS

About the Author ()

I like to write, I like to share my opinions and I gather.

Leave a Reply