Peter Andre finds himself embroiled in a financial dispute amounting to £262,000 as his personal company faces bankruptcy. While the financial struggles of his ex-wife, Katie Price, have been well-publicized, it seems that the Mysterious Girl singer has also fallen on hard times. PJA Promotions, Andre’s company, has appointed a liquidator to dissolve the firm, with debts including £229,125 in corporation tax, £25,577 in VAT, and £7,592 to trade creditors. The liquidator’s statement of affairs suggests that the recovery of these funds is uncertain, and the value of £5,000 worth of furniture and equipment is expected to be zero. The financial troubles can be attributed to Andre’s halted touring schedule during the coronavirus pandemic.
PJA Promotions was established in 1996, during the peak of Andre’s music career, and he served as the sole director. A reliable source has informed MailOnline that due to the pandemic, millions of business owners, including Andre, were unable to work and subsequently lost their companies and jobs. However, he has recently resumed regular work and is working to resolve the dispute with HMRC, the British tax authority. It is worth noting that Andre has never taken out any loans and has contributed millions of pounds in taxes throughout his career.
Currently residing in a luxurious mansion in Surrey with his wife, Dr. Emily, and their children Amelia, Theo, Princess, and Junior, Andre spoke on Chris Evans’ Virgin Radio show about his property investments. He revealed that his father had secretly saved the royalties from his hit songs when he believed he was bankrupt, enabling Andre to purchase several properties.
Despite PJA Promotions facing bankruptcy, Andre still maintains six other active companies, although they are currently dormant. The company’s latest accounts, filed in October 2022, revealed a debt of £95,192. We have reached out to a representative for further comment on the matter.
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