Since her recent ‘cash for access’ scandal the Duchess of York has been forced to acknowledge her financial problems. She had been caught on video attempting to sell an undercover reporter from the News of the World posing as a rich businessman, access to her ex-husband for cash.
The Sunday Telegraph now reports that she is believed to have business debts of around Â£2 million with the total, including her personal debts being in the region of Â£5 million.
However, a spokesman for the Duchess told the Telegraph that her personal debts had been settled, that only business liabilities remained and that the whole situation had been blown out of all proportion and was being ‘managed’.
The Queen is reported to be ‘very concerned’ about the Duchess’s finances.
Although an option, the Telegraph says that the Duchess is doing all she can to avoid bankruptcy.
In days of yore we the ordinary people would probably never have been privy to this kind of information. But with the Internet and 24 hour a day news services there are no longer many hiding places. Especially when people no longer have the same feelings of deference to royalty (or anything else for that matter, bar money). Members of the royal family must have experienced these sorts of problems in the past but never have had them so laundered in public.
For some reason I don’t think I can picture a royal, even an ex-royal, ending up before the beak in the bankruptcy courts. I’m sure that this will in some way be avoided. The decision may be made that even a minor royal is too big to fail.