Kate Garraway’s TV Firm Falls into £165,000 Debt Following Derek Draper’s Death
Kate Garraway’s television company, Praespero 100 Ltd, has plunged into financial difficulty, accumulating a staggering £165,000 debt following a difficult year. The Good Morning Britain star’s company saw a dramatic fall from profit to losses in just 12 months, as revealed by recently filed accounts for the year ending November 30, 2023. In contrast, the firm was previously in a relatively stable financial position, holding £36,888 in reserves the year before.
The financial strain comes in the wake of a series of devastating personal and business challenges Kate faced following the severe illness and eventual death of her husband, Derek Draper, in January. Derek, who passed away at 56 from complications related to Covid-19 after a long battle, left behind a legacy of financial burdens for Kate to manage, including debts amounting to between £500,000 and £800,000 for his medical care.
As well as her own company’s struggles, Derek’s psychotherapy firm, Astra Aspera Ltd, is currently in liquidation, facing £913,370 in debts. Creditors, including HMRC, have filed claims totaling over £700,000, further adding to Kate’s financial woes. Two other companies that Kate and Derek jointly controlled, Fulfill Media Ltd and Countrymouse Media Ltd, were liquidated in 2012, both leaving behind significant debts.
Kate opened up earlier this year about the emotional and financial toll of Derek’s care, saying, “Derek’s needs were clearly so great, yet he didn’t warrant funded care—so you think, ‘If he isn’t getting it, then who is?’” She also expressed her frustration with the system, stating, “It feels like it’s trying to catch you out. You feel like you’re in the dock answering questions about things that will literally mean life or death to someone you love”, according to the Daily Mail.
The financial burden has weighed heavily on Kate, and it was reported in January that she might have to sell her family home to repay some of the debts. “The house is about all she has left financially,” a source revealed. “It’s where she and Derek were so happy and also where her two children grew up—but bills are bills, and they have to be paid.”
In May, Kate candidly discussed her ongoing struggle with debt, revealing that she had withdrawn money from her pension pot to help pay off the mounting bills. She shared, “I am doing something similar myself. I have had to withdraw the bit you can tax-free from my pension to pay for belated bills for my husband.”
Despite these overwhelming challenges, Kate is trying to remain hopeful. Reflecting on the upcoming festive season, she said, “This Christmas will be difficult, as all the firsts are, but I’ve said to the kids, ‘Let’s do what feels right, do some new things and make new memories.’” Kate remains focused on shaping new moments with her children, Darcey and Billy, as she navigates this painful chapter in her life.