Victoria Beckham's fashion empire is valued at £100million after a £30m boost from tycoon who brought Paul bakery chain to Britain

Victoria Beckham's fashion empire has been given a £30m cash boost
Paul bakery founder David Belhassen bought a minority stake in the business
It means that Victoria Beckham Ltd is valued at approximately £100million

Published: 12:58 GMT, 26 November 2017 | Updated: 16:38 GMT, 26 November 2017

e-mail

360

View
comments

Last year Victoria Beckham was warned by the taxman that she could lose her firm after failing to file HMRC paperwork on time

Victoria Beckham's fashion empire has been given a major cash injection valuing the company at £100million - just months after it faced closure over an accounting error.

The Spice Girl turned design guru was warned by the taxman that she could lose her firm after failing to file HMRC paperwork on time for the third year running.

The business is said to have finally submitted losses of £4.6million in January after being served with a 'notice of compulsory strike-off' by Companies House.

But now its ailing fortunes are set to be turned around after a £30million cash injection from former Goldman Sachs banker David Belhassen who brought the bakery firm Paul to London.

He runs Neo Investment Partners which has bought a minority stake in the firm for £30million.

It means that Victoria Beckham Ltd is valued at approximately £100million which is twice the amount of last year's sales, according to the Telegraph.

The investment could help the company to pay off its massive debts which include £6.6million borrowed from DB Ventures Ltd - the company that deals with David Beckham's product endorsements.

Speaking about the late tax return earlier this year, a friend of the couple said that it was merely an administrative problem.

The source said at the time that the accounts for both companies have been audited and signed off by their boards.

Victoria Beckham Ltd's ailing fortunes are set to be turned around after a £30million cash injection from former Goldman Sachs banker David Belhassen who started the bakery firm Paul, pictured (stock photo)

'They have been sent to Companies House, but I understand that there is a backlog,' the friend said, insisting: 'There are no financial problems.

'This late filing has not impacted the business in any way.'