Gwyneth's Goop is $1.86 Million in Debt
Nicky Ty | | Nov 04, 2014 04:24 AM EST |
Looks like things aren't doing so well for Gwyneth and her company "Goop".
The actress founded the company in Fall 2008; the website was full of things that the Oscar winner curated herself, including Recipes, Household items and even Clothing. The curated items were the center of online attention especially when the website started selling plain white shirts for almost $500 a piece.
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But now it seems the company has hit a rough patch as Gwyneth has opted to file an "abbreviated balance sheet" for Goop. A copy was obtained by Radar Online and the document shows that the company's assets dropped from $974,178 in 2012 to $875,372 the following year.
The balance sheet also lists that Goop has debts of $1.86 million, which is a little higher than the $1.32 million it had previously. The $1.86 million debt is due to be paid within the coming year.
Goop has also decided to move into e-commerce seeing as shareholder's funds have recently plummeted from a loss of $326,673 in 2012 to a staggering $961,346. The move to e-commerce has made the company optimistic of its future.
The report that was filed by Gwyneth and her team also states "As the company started product sales in June of 2012, the directors are of the opinion that predicted profits will be able to provide a sufficient amount of resources that will enable the company to continue trading for the foreseeable future."
Goop had previously filed a loss of just $43,604 in 2012.
The company had recently made the big move from London to Los Angeles after Gwyneth and her now ex-husband Chris Martin decided to "Consiously uncouple." Gwyneth had also recently enlisted the help of former Martha Stewart Living Executive, Lisa Gersh, while Goop Finance Director Preete Janda had left her role last July after just a year with Goop.
TagsGwyneth Paltrow, Goop
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