Last week, Gwyneth Paltrow‘s friend and GOOP CEO Seb Bishop up and quit out of nowhere. It all seemed kind of suspicious, and while people were trying to say it was because he didn’t like that she announced her divorce from a company perspective, it seems like things might be a tad more serious, since GOOP seems to be in over $1 million worth of debt.
From Radar Online:
For two years running, they racked up serious losses totaling more than $300,000 — thanks in part to an interest-free loan Paltrow took from the company coffers!
According to the most recent corporate documentation filed with the Companies House in the U.K., in 2011, GOOP “incurred a loss of $255,312 (£152,060) and had a net liabilities of $259,969 (£154,834).” And in 2012, they reported “a loss of $39,823 (£23,718) and … net liabilities of $298,512 (£177,788).”
It’s not that GOOP wasn’t making money. In fact, in 2012, they raked in more than $1.5 million (£908,378), thanks in part to $463,486 (£276,040) in product sales, as well as an impressive (£222,243) from Groupon promotions and $373,159 (£535,002) in commissions. All told, the company made $1,893,065 (£1,127,456).
But that same year, GOOP spent $98,150 (£58,456) on Goop.com, $79,961 (£47,623) on the notorious GOOP newsletter, $189,590 (£112,918) on product costs, and a whopping $1,564,995 (£932,096) in administrative expenses,” adding up to the grand profit total of a loss of $39,823 (£23,718).
Chief among those “administrative expenses” were Paltrow and CEO Sebastian Bishop’s “renumeration,” or salaries, for which the company allotted $587,653.25 (£350,000), a sizable increase from the previous year’s figure of $172,585 (£102,788), despite the company’s losses.
The documents also show that in 2012, both Paltrow and Bishop were the recipient of interest-free “loans to directors,” with Paltrow’s listed at a balance of $49,025 (£29,200), of which none was paid back, and Bishop’s at $83,617 (£49,800).
Other expenses in 2012 included $456,007 (£271,584) in other wages, $34,507 (£20,551) on travel, nearly $4,000 (£2,118) on “Entertaining,” and nearly $5,000 (£2,951) on “Staff Entertainment.”
Sooooo… basically they were sorta cooking their own books, or at the very least ignoring the dire financial situation to make sure they got paid even if the company was sinking. There are a lot more numbers that are worth taking a look at (if you care about this sort of thing), but it looks like GOOP may soon be taking a bow unless she can sell a whole lot of $500 sweaters soon.
April 21, 2014 at 11:00 am by Jennifer
Oh shit, something’s going down over at GOOP headquarters, y’all. Our Lady of $500 Sweaters is in a bit of a pickle, as the company’s CEO, Seb Bishop, quit abruptly last week, arousing suspicion that something’s not kosher in Gwyneth Paltrow‘s overpriced, whitewashed wonderland.
From the New York Post:
Our source said: “Seb was ready to move his wife, Heidi, and their children from London, and had even been looking at properties in Los Angeles, but then he abruptly quit.” The source added, “There is speculation that he and Paltrow disagreed on the direction of Goop, partly that she used the Web site as a vehicle for her personal life, and the ‘conscious uncoupling’ announcement.”
Paltrow rep Stephen Huvane confirmed Bishop is leaving Goop, but denied he abruptly quit in a disagreement with Paltrow.
He told us, “It’s not completely true. Seb is still with Goop, but has decided not to relocate his family to Los Angeles. He will be transitioning out over time until a replacement is named.”
However, someone at US Weekly is sorta calling bullshit on that story.
“A week and a half ago, he abruptly resigned from GOOP,” the insider tells Us. “It’s really suspicious — I think something weird is going on with GOOP.”
Something weird is always going on with GOOP. Isn’t that sort of the premise upon which it’s based. It’s weird that someone thinks your spring wardrobe should cost $25,000. It’s weird that someone advocates dish towels – PIECES OF CLOTH YOU WILL LITERALLY DRY YOUR HANDS AND DISHES ON – should cost hundreds of dollars, and that that’s a sound investment. It’s weird that you would announce the end of your PERSONAL relationship in your BUSINESS newsletter. I mean, what? I don’t know anything about this Seb guy, but he seems pretty smart to get out while he could.
April 18, 2014 at 9:30 am by Jennifer
Gwyneth Paltrow recently celebrated her son Moses’ 8th birthday, and despite haven’t recently “consciously uncoupled” from husband Chris Martin, she was certainly in the festive spirit and wasn’t going to let that affect Moses’ special day. And yeah, I think it probably goes without saying that it’s pretty sweet to be the kid of a rich parents.
From US Weekly:
“Everything took place in the backyard,” the insider tells Us, adding that the set-up of the driveway included blue ombre-faded balloons spelling out the letters “M-O-S-E-S” beside the number “8.” The guest list included 20 of Moses’ friends and a few of 9-year-old Apple’s pals, too.
“Colorful tables were set up everywhere,” the eyewitness recalls, “and hula hoops and balls for the kids to play with.” Along with the toys, the backyard featured a giant inflatable bounce house in the style of a pirate ship. But that’s not all! A magician was also on-site to entertain the kids.
For lunch, the kids and adults enjoyed delightful treats catered by food trucks, including gourmet hotdog vendor Dogtown Dogs and L.A.’s beloved “chow truck” India Jones. Specialties included hot dogs topped with Fritos and Indian street food like samosas, curry and Indian tacos, the source says.
The party ended at around 4 p.m. in the afternoon. Some of the guests were spotted leaving in airbrushed T-shirts, designed at the party, which included each kid’s name and a design of his or her choice.
Okay, first of all, what 8-year-old has 20 friends? Honestly? That seems insane to me and I’m going to go ahead and assume most of those kids were just the kids of fellow celebrities. On a side note, the blow up house seems awesome and I bet the food was superb. I mean, damn, can’t I get an invite?
April 15, 2014 at 2:00 pm by Jennifer
From Busines Standard:
Chris Martin reportedly had an affair with a ‘Saturday Night Live’ assistant while he was married to Gwyneth Paltrow, it has been revealed.
According to the staff of NBC, the 37-year-old Coldplay rocker, who appeared on the show in 2011, was spotted openly flirting with a backstage woman at a post show after-party, the New York Post reported.
The article goes on to say that Martin has also denied having an affair with actress Kate Bosworth.
AND rumors abound that Gwyneth was cheating too.
What a mess.
April 6, 2014 at 12:00 pm by Catherine St. Ives
Gwyneth Paltrow and Chris Martin released the bougiest divorce announcement in history last week, and ol’ Goop has been working hard to keep it classy throughout this ordeal. Turns out, there’s a reason for that: she’s terrified that her reputation will be tarnished if things get ugly.
Sources close to the former couple tell TMZ … this is NOT a separation. They are definitely getting divorced. But both are concerned about serious PR damage if the divorce turns ugly, and they don’t want to open the door to media reports about them straying from the marriage as well as other issues.
The concern … even if the case doesn’t go to trial … any allegation put down in legal docs could end up getting leaked … and both Gwyneth and Chris agree … that’s the worst case scenario for both of them.
We’re told the divorce will be relatively quick and there are no apparent conflicts. They will not fight over money and they won’t fight over custody.
Well, that’s nice. To be honest, I don’t think an ugly divorce benefits anyone – especially not the kids. While Gwyn’s motivation might be self-preservation of her “brand”, I think keeping things cordial is best for everyone, eh?
March 31, 2014 at 10:30 am by Jennifer
Gwyneth Paltrow announced her split from Chris Martin less than a week ago via the GOOP website, as you do, and while she may have packed up the kids and hightailed it to the Bahamas to avoid the press, it seems like she’s not really trying all that hard to veer away from discussion of the topic of her “conscious uncoupling”, as she’s released a new statement, of sorts, thanking everybody for giving a shit.
In a “PS” to the intro of the new GOOP newsletter (OF COURSE), she simply wrote:
P.S. CM and I in deep gratitude for the support of so many. ?
The cluelessness of this woman is hilarious. “CM” – because we’re all on a really close and intimate relationship with them both. The fact that it’s a PS? That she added a heart emoticon? “Deep gratitude”? Lord almighty. When will this nation’s Gwyneth Paltrow nightmare finally be over?
Side note: I read this piece in The Telegraph this morning from a reporter who hated “GP”, if you will, and then interviewed her and thought she was super warm and lovely and now insists that we’ve all got her wrong. I’m gonna pass on that opinion, but it’s worth a read!