Television presenter Kate Garraway faces mounting financial pressures as recently filed documents reveal her media company has recorded substantial losses for the second consecutive year.
Praespero 100 Ltd, the firm established by the 58-year-old Good Morning Britain host to manage her broadcasting earnings, reported debts of £288,122 for 2024 according to Companies House filings.
This marks a sharp deterioration from the previous year's £165,011 deficit and represents a dramatic reversal from the £36,888 profit recorded in 2022.
The company handles activities including radio and television broadcasting, along with management consultancy services, excluding financial management.
Kate Garraway has been open about her financial hardships | PAThese latest figures compound existing financial challenges for the presenter, who has been open about her monetary struggles following years of substantial care expenses.
The broadcaster already carries a debt burden of £800,000 accumulated from the weekly £4,000 expenses required for her late husband Derek Draper's care throughout his four-year struggle with Covid-related complications until his passing in January 2024 at age 56.
Additional financial pressure emerged when the couple's psychotherapy enterprise Astra Aspera Ltd was wound up, leaving outstanding obligations of £184,096 and triggering a tax demand of £716,000 from HMRC.
The Daily Mail reports that recent liquidator documents indicate HMRC has since reduced its claim to £288,054, though the reasons for this substantial decrease remain unclear.
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Kate Garraway's care bills for her late husband put her in debt, with costs soaring to £16,000 per month | GETTY
The closure of the psychotherapy business represents the latest in a series of company liquidations, with two other firms jointly controlled by the couple having been wound up by creditors in 2012.
To address her financial obligations, the presenter has taken significant steps including disposing of a London property earlier this year and accessing her pension funds to meet pressing bills.
Kate Garraway remains an integral part of the Good Morning Britain line-up
| ITVThe couple's Islington townhouse, purchased for £550,000 in 2004 and previously listed for rental at £6,750 monthly, is now being sold with an expected value around £2 million according to Land Registry records.
Financial management firm Hacker Young has been engaged to assist with her monetary affairs.
Kate Garraway's husband died following a lengthy battle with Covid complications
| PASpeaking on Good Morning Britain in March 2024, she told co-hosts Richard Madeley and Susanna Reid: "I am ashamed of the fact that I am in debt...
"Because I have an incredible job that I love, that's very well paid."