Michelle Mone, the embattled businesswoman and former lingerie tycoon, has been granted permission to dissolve two extra of her firms, leaving only one lively enterprise in what was as soon as a thriving empire.
The closures come as Mone, 53, and her husband, Doug Barrowman, 59, face ongoing investigations over an alleged multi-million-pound PPE fraud.
Mone, recognized for her function in founding the Ultimo lingerie model, utilized to Firms Home to dissolve MMI International and Michelle Mone Interiors, each of which have hyperlinks to the controversial Knox Group, a enterprise community run by Barrowman. The UK Authorities company accredited the functions on July 16, formally eradicating the businesses from the Firms Home register.
This improvement leaves Mone with just one remaining directorship, MGM Media, based mostly in Edinburgh. The closures mark a big discount in her enterprise pursuits, which as soon as included 12 firms, together with the well-known MJM Worldwide.
The couple, who had been as soon as distinguished figures within the enterprise world, are actually beneath scrutiny by the Nationwide Crime Company (NCA). The company has been investigating suspected legal offences associated to the procurement of medical robes and masks by Barrowman’s agency, PPE Medpro, which is linked to the Knox Group. As a part of the investigation, £75 million in belongings, together with properties in Glasgow, have been seized.
A enterprise knowledgeable commented on the state of affairs, stating, “The companies didn’t appear to be trading any more, so it made sense at some point to dissolve them. It also draws a line under her publicly registered business links in the UK with Barrowman.”
Mone, who was made a Conservative peer in 2015, owned 35% of Michelle Mone Interiors, whereas the remaining 65% was held by Knox Worldwide.
The NCA, which launched its investigation in Could 2021, has declined to supply additional particulars, citing the continued nature of the inquiry. A spokesperson for the company stated, “The NCA opened an investigation in May 2021 into suspected criminal offences committed in the procurement of PPE contracts by PPE Medpro. As this is an ongoing investigation, we will not be commenting further at this time.”
Because the investigation continues, Mone’s enterprise portfolio has been dramatically diminished, leaving just one lively firm within the wake of those closures and the continued authorized scrutiny.
