Gwyneth Paltrow’s lifestyle company Goop, famous for its weekly newsletter, was in debt and losing money through the end of 2012, the company’s corporate records reveal.
Unaudited financial statements for the privately-held company that were filed with the UK’s Companies House state that Goop reported a 2012 loss of around $39,000 (£22,954), Radar Online reports. That was a big improvement from 2011, however, when the company reported nearly $260,200 (£155,834) in losses.
The company had real revenue — the records show significant product sales and income from Groupon — but expenses exceeded gross profits. Compensation for Paltrow and recently departed Goop CEO Sebastian Bishop was one of the more notable administrative expenses. The two took in close to $589,000 (£350,000) together in 2012, nearly a third of the company’s gross profits that year and a significant increase from the almost $173,000 (£102,788) they received the previous year.