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Jacqueline Jossa will not get a penny she is owed after the collapse of fashion brand In The Style.
The EastEnders favourite was one of the faces of the once successful firm and was rumoured to have inked a £1million deal.
But following the firm’s collapse into administration owing £21million, she revealed she was bringing in lawyers to try and secure money owed.
According to documents filed on Companies House earlier this year, Jacqueline’s representatives InterTalent are owed a grand total of £34,202.
Now, a damning report into the firm’s finances undertaken by accountants has revealed that they have only been able to identify assets of £320,000 to set against the £21million the brand owes to creditors.
It comes less than two weeks after Jacqueline accused the fast fashion brand of still not giving her the money she is reportedly owed for the collaboration work.
Jacqueline Jossa will not get a penny she is owed after the collapse of fashion brand In The Style, it was revealed on Friday
The EastEnders favourite was one of the faces of the once successful firm and was rumoured to have inked a £1million deal
‘I used to do my collections with “you know who”,’ she said in a video on her Instagram, singing out, ‘That has still not paid me! But I do miss doing them [the videos].
‘It is nice also to, like, not have the collections, because they were going on for over four years, it did get a bit dry, so I feel like I’ve got my mojo back a little bit.’
Jacqueline is among scores of unsecured creditors, with the tax office in line to receive cash to offset the £1.4million owed to HMRC, as it is classed as a preferential creditor.
Number crunchers were guarded in the outlook for Jacqueline and other individuals in their initial report and wrote: ‘Until case matters have been progressed and the Joint Administrators have undertaken the requisite investigations as required by statute, the final return to creditors remains uncertain.’
But they warned: ‘Work undertaken by an Administrator in dealing with a company’s creditors may only therefore bring a financial benefit to certain classes of creditor such as a secured creditor or the preferential creditors.’
The report into the spectacular collapse of the firm was laid bare in the report and revealed how Jacqueline and other influencers like Charlotte Crosby had helped fuel its initial success.
It added: ‘Traditionally the business was operated on an influencer-based business model, in order to drive marketing and subsequently increase sales.
‘It was delivering 85% of sales in the form of influencer specific collections whereby an individual social media personality helps to design and markets their collection in exchange for a share of proceeds.
But following the firm’s collapse into administration owing £21million, she revealed she was bringing in lawyers to try and secure money owed (Seen in 2023)
According to documents filed on Companies House earlier this year, Jacqueline’s representatives InterTalent are owed a grand total of £34,202
‘This royalty-based remuneration of the collaborators, whilst lucrative in achieving turnover, made achieving profitability within the wider business difficult, despite helping to grow the brand exponentially within a relatively short timeframe.
‘There were apparent profit and loss issues for some time culminating in a loss of £8.4m year end March 2023. The business was delisted from the public market (avoiding a formal insolvency procedure) and sold to a third party for £1.2m.’
MailOnline has contacted InTheStyle for comment.
In February, Jacqueline hit out at the firm, saying: ‘After four glorious years working with In The Style, I never thought my time with the brand would end this way, but in truth since I or my team can’t get a response from anyone at the company, the decision has been made for me.
‘My name and image is still being used all over the website, helping the brand to sell stock, yet I haven’t been paid for months.’
InTheStyle, who signed Jacqueline in a £1m deal five years ago collapsed into administration with £11m of debt.
The fashion company was founded by Adam Frisby in 2013, but was acquired by UK-based private equity firm Baaj Capital for £1.2million in March 2023.
Ben Armstrong became managing director in December 2023 when Adam stepped down from his position, but he has since left the business.
Earlier this year, Jacqueline publicly hit out at In The Style as she claimed they owed her an outstanding payment and said she couldn’t get a response from their team.
Taking to her Instagram Stories, Jacqueline wrote: ‘After four glorious years working with In The Style, I never thought my time with the brand would end this way, but in truth since I or my team can’t get a response from anyone at the company, the decision has been made for me.
‘My name and image is still being used all over the website, helping the brand to sell stock, yet I haven’t been paid for months.’
She continued: ‘I see them signing up new faces and continuing to launch new collections and I feel it’s my responsibility to let the new girls know that their contract is unlikely to be honoured and they are unlikely to be paid.
‘After I threatened to speak out, last week, the MD requested a call with me during one of the busiest weeks of my career for EE live and had the disrespect to not show up leaving me and my team on the call for 20 mins before we logged off. He has since not responded to any emails.’
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