Reviewed: 15th March 2016
Nigella Lawson, who has been presenting cookery shows on British television for well over a decade, has entered her TV production company into voluntary liquidation.
Pabulum Productions, which was first established in 2001, will now be closed down and its assets liquidated.
Lawson emerged in the early 2000s as one of the most popular cooks on British television with her long-running shows, including Nigella Bites, proving to be a major hit with viewers around the UK and beyond.
However, her latest programmes for British TV were rather less well received and struggled to attract viewers in anywhere close to the same numbers when they were aired under the title Simply Nigella in 2015.
It is understood that Pabulum Productions had debts worth just over £300,000 and outstanding tax liabilities worth a little more than £20,000 when it was entered into voluntary liquidation in recent days.
However, as the sole director of the company, Lawson is set to benefit from a windfall of more than £2 million once all the business’ assets are sold via the liquidation process, according to the MailOnline.
Spokespeople for the TV presenter have declined to comment on the voluntary liquidation process or on the motivations behind recent decisions taken in relation to her production company.
Lawson split from her art dealer husband Charles Saatchi in 2013 following a high-profile divorce case that saw her accuse him of unreasonable behaviour.
There has been some speculation that Lawson’s aim in liquidating her company on a voluntary basis is a strategic move aimed at avoiding the potential for onerous tax demands from HM Revenue & Customs.
The UK’s tax-gathering body is understood to be increasing its scrutiny of companies that are essentially one man or one woman operations but which are able to generate sizable profits on an annual basis.
In June 2014, it was revealed that Pabulum Productions had increased its annual profits by 20 per cent to £2.85 million for the previous financial year.
The company handled the production processes behind Lawson’s once hugely popular TV shows and all operations relating to her official website which remains up and running at nigella.com. With 72 offices stretching from Inverness down to Exeter, Real Business Rescue can offer unparalleled director advice across the UK.
14th February 2019
The bakery chain business Patisserie Valerie has been acquired out of administration by an Irish private equity firm called Causeway Capital Partners.Read More
13th February 2019
The department store operator Debenhams has secured access to a £40 million credit facility that should help it cope with the pressures of its ongoing funding crisis.Read More