14 DAY TRIAL // When it rains it pours even for the rich and famous. Gwyneth Paltrow is going through a very difficult time, both personally and professionally: after news of her separation from Chris Martin comes a report to show that her business Goop isn’t doing all that well either.
Last week, Goop CEO Seb Bishop decided to leave because, it was said, he didn’t like it that Gwyneth only wanted to do things her way. Radar Online has now obtained documents showing that the business has actually been losing money since it started.
The documents were filed last year and refer to the fiscal year of 2012. We won’t bore you with too many details and figures because what it all boils down to is this: Paltrow’s lifestyle business isn’t making a profit. Even worse, it’s registering losses and is already in debt.
Gwyneth and Bishop spent a fortune on the Goop website and then granted themselves interest-free personal loans, which the Oscar-winning actress never paid back. They also gave themselves pay raises.
The same documents reveal that they spent a lot of money on entertainment and leisure activities, both for themselves and the staff so that, at the end of the year, when they calculated revenue, they actually came to a loss of $39,823 (€28,846).
“The continued existence of GOOP, it seems, would depend upon [a profit], since the report noted that in addition to the losses, the company owed creditors more than $1.2 million [€869,250], all of which would come due by the end of 2013,” Radar Online says.
The e-zine calls the financial situation of Goop a “dire” one, which makes sense if you consider that Goop isn’t the kind of lifestyle business that would include regular Janes and Joes as customers. With T-shirts selling in the hundreds of dollars a piece and recipes for a simple dessert that cost so much you could feed an entire family for a week for the same amount, it’s quite surprising to hear that Paltrow has been running the business into the ground.
Because this is exactly what she’s believed to be doing, mostly because of her extra-controlling ways. Bishop, for one, is said to have grown sick and tired of her idea of a business partnership, which is why he decided to ditch Goop and move on to greener pastures.
If we’re to believe some of the things “insiders” tell the tabs, Chris Martin feels the same way about Paltrow, only to a higher degree because he was married to her for 11 years. She is impossibly strict and condescending, cold and calculated, insufferable and mean – so he finally decided he’d had enough.