Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Michelle Mone’s business empire reduced to single company after closure of two firms

by August 11, 2024
August 11, 2024
Michelle Mone’s business empire reduced to single company after closure of two firms

Michelle Mone, the embattled businesswoman and former lingerie tycoon, has been granted permission to dissolve two more of her companies, leaving just one active business in what was once 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, known for her role in founding the Ultimo lingerie brand, applied to Companies House to dissolve MMI Global and Michelle Mone Interiors, both of which have links to the controversial Knox Group, a business network run by Barrowman. The UK Government agency approved the applications on July 16, officially removing the companies from the Companies House register.

This development leaves Mone with only one remaining directorship, MGM Media, based in Edinburgh. The closures mark a significant reduction in her business interests, which once included 12 companies, including the well-known MJM International.

The couple, who were once prominent figures in the business world, are now under scrutiny by the National Crime Agency (NCA). The agency has been investigating suspected criminal offences related to the procurement of medical gowns and masks by Barrowman’s firm, PPE Medpro, which is connected to the Knox Group. As part of the investigation, £75 million in assets, including properties in Glasgow, have been seized.

A business expert commented on the situation, 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, while the remaining 65% was held by Knox International.

The NCA, which launched its investigation in May 2021, has declined to provide further details, citing the ongoing nature of the inquiry. A spokesperson for the agency said, “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.”

As the investigation continues, Mone’s business portfolio has been dramatically reduced, leaving only one active company in the wake of these closures and the ongoing legal scrutiny.

Read more:
Michelle Mone’s business empire reduced to single company after closure of two firms

0
FacebookTwitterGoogle +Pinterest
previous post
US, UK and Australia take next step in integrating AI defense systems
next post
UK Government cancels £1.3 billion AI and tech funding amid economic tightening

You may also like

Getting young people back into the office will...

November 25, 2022

Early Life Education: The Key To Achieving A...

September 1, 2022

UK firms asked to disclose China investments as...

August 22, 2023

New chair at Small Business Charter as Byron...

January 17, 2025

Inflation eases slightly due to cheaper fuel and...

January 18, 2023

City regulators crack down on bankers using private...

October 11, 2022

Small businesses being offered support to go green

October 10, 2023

The Search Pact: All About Apple and Google...

May 20, 2024

Why Small Business Financing is Evolving Beyond Traditional...

November 4, 2024

Qatar set to make £4bn UK climate tech...

September 11, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump confirms 2 nuclear submarines are ‘in the region’ to counter Russia

      August 4, 2025
    • Trump Accounts Won’t Replace Social Security or Help Americans Build Significant Wealth

      August 4, 2025
    • How Special Interests Keep Bad Laws on the Books: The Case of the Jones Act

      August 4, 2025
    • Four Cymru partners with Wales Tech Week to showcase Welsh innovation on the global stage

      August 4, 2025
    • Rachel Reeves urged to apply VAT to private healthcare in bid to fund NHS

      August 4, 2025
    • Trump accuses Senate Democrats of using nominee confirmations as leverage for funding deals

      August 4, 2025

    Categories

    • Business (8,658)
    • Investing (2,170)
    • Politics (16,294)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved