Gwyneth Paltrow's Goop has debts of more than $1,800,000
Gwyneth Paltrow arrives at the 2014 amfAR Inspiration Gala at Milk Studios on Wednesday, Oct. 29, in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
Published Monday, November 3, 2014 10:21AM EST
Gwyneth Paltrow's Goop has debts of over £1 million (Cdn $1,807,684).
The "Iron Man 3" actress opted to file an "abbreviated balance sheet" for her lifestyle business' 2013 accounts but information available and obtained by RadarOnline.com shows the company's assets fell from £530,184 ($958,379) in 2012 to £476,410 ($861,175) the following year.
And Goop has debts of £1.016 million ($1,836,380) due to be paid in the coming year, up from just over £722,000 ($1,304,988) in the previous 12-month period.
Shareholders' funds have plummeted from a loss of £177,788 ($321,384) in 2012 to £523,200 ($945,779) but the company are optimistic of their future, largely thanks to a move into e-commerce.
The report notes: "As the company started product sales in June, 2012, the directors are of the opinion that predicted profits will provide sufficient resources to enable to the company to continue trading for the foreseeable future."
In 2012, Goop recorded an overall loss of £23,718 ($42,874).
This year, the company - which has moved from London to Los Angeles - has seen big staff changes, with former Martha Stewart Living executive Lisa Gersh taking over from Sebastian Bishop as CEO, and Finance Director Preete Janda leaving her role in July after a year.