Just £118,000 left from Amy Winehouse's £10million estate
Published: 2013 May 05 10:54:31 (5744 Views)
Amy Winehouse's family have been forced to use much of her fortune to settle bills and debts since her death nearly two years ago.
Latest available accounts published this week reveal that there is less than £180,000 left in her six music companies, despite the singer being reportedly worth £10million at the height of her success.
Amy's parents have had to take out loans of £600,000 to cover the costs of dealing with her financial affairs.
Dad Mitch, who was expected to share £3million from the will with Amy's mum Janis, recently revealed that sorting out her estate had cost them an "absolute fortune".
A source close to the family yesterday said new accounts due to be published in August would show royalties from her albums sold since her death would substantially boost her legacy.
Just weeks after Amy's death from alcohol poisoning in July 2011, aged just 27, her divorced parents Mitch and Janis set up a new company, Villeston Limited.
That firm published its accounts this week, reporting a profit of £466,758. Mitch and Janis had each borrowed £299,297 from the business but it is understood the loans were recently repaid with the proceeds of the sale of Amy's £1.9million home in north London.
A source close to the family says that when the later accounts for Cherry Westfield are published they will show a big increase in profits thanks to royalties from the 1.7 million sales of her records in the first 12 months since her death.
Amy's two studio albums, Frank and Back to Black, both saw a noticeable jump in sales following her death, as did those of her hit single Valerie.
The source explained that the estate has had a lot of expenses, including legal fees, mortgage payments, security and taxes.
Speaking recently about the sale of Amy's home, Mitch said: "It was an incredible drain on our resources. We had to have a lot of security and it cost us an absolute fortune."
Following his daughter's death Mitch set up a charity in her memory called The Amy Winehouse Foundation, which helps youngsters suffering from addictions.
Mitch donated all the royalties from his book, Amy, to the foundation.
A further £1 for every copy of his daughter's posthumous compilation album, Lioness: Hidden Treasures, also goes to the charity.
- Mirror
Latest available accounts published this week reveal that there is less than £180,000 left in her six music companies, despite the singer being reportedly worth £10million at the height of her success.
Amy's parents have had to take out loans of £600,000 to cover the costs of dealing with her financial affairs.
Dad Mitch, who was expected to share £3million from the will with Amy's mum Janis, recently revealed that sorting out her estate had cost them an "absolute fortune".
A source close to the family yesterday said new accounts due to be published in August would show royalties from her albums sold since her death would substantially boost her legacy.
Just weeks after Amy's death from alcohol poisoning in July 2011, aged just 27, her divorced parents Mitch and Janis set up a new company, Villeston Limited.
That firm published its accounts this week, reporting a profit of £466,758. Mitch and Janis had each borrowed £299,297 from the business but it is understood the loans were recently repaid with the proceeds of the sale of Amy's £1.9million home in north London.
A source close to the family says that when the later accounts for Cherry Westfield are published they will show a big increase in profits thanks to royalties from the 1.7 million sales of her records in the first 12 months since her death.
Amy's two studio albums, Frank and Back to Black, both saw a noticeable jump in sales following her death, as did those of her hit single Valerie.
The source explained that the estate has had a lot of expenses, including legal fees, mortgage payments, security and taxes.
Speaking recently about the sale of Amy's home, Mitch said: "It was an incredible drain on our resources. We had to have a lot of security and it cost us an absolute fortune."
Following his daughter's death Mitch set up a charity in her memory called The Amy Winehouse Foundation, which helps youngsters suffering from addictions.
Mitch donated all the royalties from his book, Amy, to the foundation.
A further £1 for every copy of his daughter's posthumous compilation album, Lioness: Hidden Treasures, also goes to the charity.
- Mirror
0
You May Like These Videos
WATCH: Victims Narrate Ordeal After Being Clobbered By Riot Cops
FLASHBACK: Morgan Tsvangirai Won't Resign Despite Illness 
Police Violently Beat Harare Protesters 
Zimbabwean Man Who Was Shot By Tswana Employer Appeals For HelpComments
There are no comments.
Get Zim Metro Updates Alerts
Big Reads
Schoolgirl drops out after continuous 'sexual abuse' by teacher
by Staff Reporter | 2019 August 13 07:42:33
Mugabe Knows Nothing About The Zimbabwe Constitution: MP
by Staff Reporter | 2016 October 01 08:12:02
Zim's Protesting Graduates Risk Losing Degrees For Expressing Anger Against Mugabe
by Staff Reporter | 2016 October 01 07:57:08
Troubled Harare Giants Dynamos Falls Into Another Deep Crisis
by Own Correspondent | 2016 October 01 07:49:17
Grace Mugabe Grovels At Mnangagwa, Says I Did Not Ask Ubaba To Fire You
by Staff Reporter | 2016 October 01 07:31:48
Mugabe Attacks Mawarire, Claims The Exiled Pastor Failed To Divide Zimbabwe
by Staff Reporter | 2016 October 01 07:19:13
Shock As Local Bank Denies 'Rich' Mugabe's Son Heifty Credit
by Own Correspondent | 2016 September 30 19:14:54Trouble For Police Officers Who Have Been Mercilessly Bludgeoning Protesters
by Staff Reporter | 2016 October 01 07:20:19
Mugabe "Home Coming" And "Thank You" Rally On Cards
by Own Correspondent | 2016 September 23 06:48:24
Prof Moyo Was Dumped By Western Embassies, Claims Mutsvangwa
by Staff Reporter | 2016 September 22 10:08:07Broke RBZ Tracks Down Zimbabweans Living Outside The Country Over Taxi
by Staff Reporter | 2016 September 22 09:16:20
You Are Too Old To Lead, Aging Zim President Mugabe Told
by Own Correspondent | 2016 September 22 07:19:25
Anti-Corruption Commission Loses Property In Failed Probe
by Own Correspondent | 2016 September 20 03:18:19
.jpg)
SHOCKING:14 Year Old HIV-Positive Boy Rapes 7 Pupils
by Own Correspondent | 2016 September 20 00:04:55
