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Business adviser Baroness Mone needs advising

The highly-praised “entrepreneurship tsar” faces being struck off the register at Companies House

Baroness Mone (centre) ahead of the State Opening of Parliament by Queen Elizabeth II. Photo:Stefan Rousseau/PA Archive/PA Images

Before Boris Johnson, Baroness Mone advised David Cameron and Theresa May on business matters during their periods in Downing Street, so it’s least said, soonest mended from all of them about the tangle that the lingerie tycoon now finds herself in.

The police have lately raided her mansions in Belgravia in London and the Isle of Wright in relation to her part in the awarding of PPE contracts worth £203m.

Now, Mandrake hears that the much-vaunted “entrepreneurship tsar” faces being struck off the register at Companies House in relation to her WeShop business. It was issued with a strike-off notice earlier this month, with latest accounts showing accumulated trading losses of £13m at February 29 2020. A “going concern note” showed there were also “net liabilities at £5,730,533 and losses for the period of £3,771,281.”

Mone need not fret about keeping the books of her other business ventures up-to-date. Handily, they come under the umbrella of MGM Media, which is an unlimited business, meaning they need not make their figures public. 

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