Gwyneth Paltrow's Goop Is in Debt (Report)
Despite reported losses, Paltrow and Goop CEO Sebastian Bishop earned a sizable pay raise between 2011 and 2012.
Goop, Gwyneth Paltrow's lifestyle website where she announced her "conscious uncoupling" from estranged husband Chris Martin, is reportedly under water.
The documents, filed with the Companies House in the U.K., show Goop with a loss of $255,312 and net liabilities of $259,969 in 2011 and a reported loss of $39,823 and net liabilities of $298,512 in 2012.
However, Radar points out that Goop was making money from product sales, Groupon promotions and commissions, earning more than $1.5 million in 2012, but it also spent a sizeable amount on the company (roughly $1.9 million).
Despite these losses, Paltrow and Goop CEO Sebastian Bishop -- who announced his exit from the company last Thursday -- earned sizable pay raises between 2011 and 2012. In 2011, Paltrow and Bishop earned around $200,000 between them. In 2012, their compensation had grown to almost $600,000. Also in 2012, they were both reportedly recipients of interest-free loans, with Paltrow's balance (the document was filed under her marriage name of Martin) listed at $49,025, and Bishop's at $83,617. Paltrow and Martin own 80 percent of the company, while Bishop owns 20 percent.
Goop's corporate files for 2013 have not yet been released, but the obtained documents note that the company owed over $1.2 million that was due by the end of last year.
Goop has contributed to nonprofit organizations in the past, donating $2,000 on average, to the David Lynch Foundation, the Edible Schoolyard Foundation and Pencils of Promise.
Pret-a-Reporter has reached out to Paltrow's rep and Goop.com for comment.