UPDATE: Andrew Mountbatten Windsor has initiated the closure of his entrepreneurial support platform, Pitch@Palace, as revealed in documents filed with Companies House today. This decision comes amidst a backdrop of significant controversy and dwindling financial resources.
Pitch@Palace was established to connect start-ups with investors and mentors, claiming to have facilitated the creation of 3,000 jobs. However, the latest financial records indicate a sharp decline in cash reserves, with only STG10,965 (approximately $A22,123) reported at the end of March, down from STG220,990 (around $A445,861) the previous year. The company has officially applied to be “struck off and dissolved,” a move signed by its sole director, Arthur Lancaster.
Officials have noted that Prince Andrew holds “significant influence or control” over the business, raising questions about its future. The announcement follows Andrew’s resignation from Pitch@Palace in 2019 amidst backlash from a controversial BBC interview, further complicating his public image.
The platform faced additional scrutiny last year when it was linked to an alleged spy, Yang Tengbo, a former partner of Pitch@Palace China, who was banned from the UK by the Home Office. This revelation has intensified the cloud of controversy surrounding Andrew, who has now been stripped of his title and dukedom by King Charles due to what has been described as “serious lapses of judgment.”
Amid these developments, Andrew continues to deny allegations of sexual abuse against Virginia Giuffre, a claim stemming from her trafficking by convicted sex offender Jeffrey Epstein. Recent reports revealed that Andrew had emailed Epstein in 2011, stating, “we’re in this together,” contradicting his claims of having severed ties with the financier.
As the British Parliament returns from recess on October 31, 2023, the Liberal Democrats plan to address Andrew’s rental arrangements at Royal Lodge, including potential payouts for vacating the property. This discussion marks the first time UK MPs will debate Andrew’s conduct in light of recent revelations.
The unfolding situation surrounding Andrew and Pitch@Palace underscores the broader implications of reputational damage and financial instability within organizations linked to prominent figures. What happens next remains to be seen, but the urgency surrounding these matters is palpable. Stay tuned for more updates as this story develops.
