Former glamour model Katie Price celebrated overcoming her second bankruptcy on Tuesday - and has vowed to enjoy a healthy financial future.
The mum of five has endured a tumultuous six years of financial struggles, including two bankruptcies. The second of which happened following a significant tax debt of more than £750,000. However, she revealed she has been discharged from this - and is now ready to enjoy successes in the future. In full, Katie's statement on Tuesday read: "I’m so happy. I can finally move on and leave these bankruptcies behind me, focusing only on the positive. Thank you to everyone who supported me throughout this process."
The statement comes after Katie was discharged from her first bankruptcy on February 11, 2025. The TV star, originally from Brighton, East Sussex, is now "free to reset and rebuild," a friend said on Tuesday.
The celeb's fortune once soared to an estimated £100 million but she has faced hard times in recent years with her debt, which has included unpaid income tax, VAT, and other surcharges.
Speaking to The Sun, a source close to Katie said: "She’s been through a lot, and this feels like a massive weight has been lifted off her shoulders. It’s been hanging over her like a cloud, but now she’s free to reset and rebuild. If anyone can make her millions back, it’s Katie."
Despite setbacks, including a court order to pay 40% of her monthly income from OnlyFans until 2027, Katie is now looking ahead. She also faced a warrant for arrest after missing a court date regarding her finances but has since made strides in complying with bankruptcy regulations.
Katie's lawyer, Chris Keane of Fieldfisher LLP, explained, "Initially, Katie didn't fully grasp the bankruptcy process or the implications of missing meetings with the Trustee. However, since working with expert insolvency lawyers, she’s been fully compliant and has been discharged from both bankruptcies."
Last month, Katie had one of her bankruptcy's discharged as she faced the hearing to settle her finances. She was due to face questions over her finances at a hearing known as a public examination after first being declared bankrupt in 2019.
Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of her first bankruptcy was suspended, meaning she was still bound by its terms.
The suspension was lifted by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday, backdated to December 7 last year, meaning the bankruptcy was discharged. Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The public examination of the first bankruptcy can be formally concluded in open court.”
