Kate Garraway experiences another financial setback as her media business records a loss of £288,000 last year, a result of selling a £2M secondary residence to cover an £800,000 debt accrued from taking care of her late husband, Derek Draper.

In a recent turn of events, television presenter Kate Garraway's media company, Praespero 100 Ltd, has reported significant losses, deepening the financial challenges she has been facing.

According to the latest accounts, Praespero 100 Ltd, which is engaged in radio broadcasting, television programming, and management consultancy activities, reported losses of £288,122 in 2024. This comes after a surplus of £36,888 in 2022 and losses of £165,011 in 2023.

The financial troubles for Garraway are not new. In 2012, two other companies jointly controlled by her and her late husband Derek Draper were wound up by creditors. Fulfil Media Ltd had debts totalling £922,807, including £88,486 owed to HMRC, £90,882 to trade creditors, and £462,808 in 'third party loans'.

Draper's psychotherapy firm, Astra Aspera Ltd, also went bust, leaving the company in debt to creditors including HMRC. The most recent liquidator's report shows that Garraway has been trying to repay some of the debt, and HMRC has dramatically decreased their tax demand from £716,822 to £288,054.

Garraway and Draper were both personally owed £24k each by the business. However, the directors' loan account for Astra Aspera Ltd was overdrawn by £139,849, but the liquidator has received £21,000 in this report period.

The financial struggles have led Garraway to sell her properties to pay off debts. She sold her three-bed, four-storey townhouse in Islington, north London, which she bought for £550,000 in 2004. An identical property on the same street sold for £1.865M in June last year. The sold Islington pad features a roof terrace, private garden, and offers a blend of modern living and period charm.

Garraway is also the sole director of Praespero 100 Ltd. However, the name of the company where she tries to manage her media earnings, which were nearly £300,000 in deficit according to the 2024 accounts, is not provided in the available search results.

The financial challenges come amidst the loss of Draper, who passed away in January last year after a four-year battle with Covid. The creditor claims of £196,548 from four other firms, including a £50,000 bank loan, suggest there will be no payout for creditors.

Despite the financial hardships, Garraway continues to maintain her professional commitments, including her role as a presenter on Good Morning Britain.

Kate Garraway experiences another financial setback as her media business records a loss of £288,000 last year, a result of selling a £2M secondary residence to cover an £800,000 debt accrued from taking care of her late husband, Derek Draper.