Gwyneth Paltrow's Goop Company Suffers Losses, Finds Itself In Debt
Goop, Gwyneth Paltrow’s lifestyle website, has consistently been in financial trouble, according to newly uncovered corporate filings.
Gwyneth Paltrow's Company Suffers Losses
In 2011, Goop “incurred a loss of $255,312 (£152,060) and had a net liabilities of $259,969 (£154,834),” according to documents obtained by RadarOnline. In 2012, Goop reported, “a loss of $39,823 (£23,718) and … net liabilities of $298,512 (£177,788).”
Contrary to what the numbers would imply, Goop had managed to make a considerable amount of money in 2012 – $1,892,065. However, the company’s expenses on the newsletter, product costs and Paltrow and former CEO Sebastian Bishop’s $587,653.25 “remuneration” exceeded their gains. In 2012, both Paltrow and Bishop received “loans to directors.” Paltrow’s loan, which was never paid back, amounted to $49,025.
Despite the discouraging filing, Goop remains optimistic that the future will hold a better financial situation for the company. “As the company started product sales in June 2012, the directors are of the opinion that predicted profits will provide sufficient resources to enable the company to continue trading for the foreseeable future,” a passage in the report reads.
The report further stated that Goop remains, “dedicated to informing and positively inspiring its audience," according to a mission statement on the website.
Paltrow has yet to personally comment on Goop’s finances.
– Chelsea Regan