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In roughly one year, 15 employees have left the company and now they’re reportedly is one single accountant left toiling away at Andrew’s business.
Royal Family News: Prince Andrew’s Business Company Has One Employee?
Meanwhile, a spokesperson told the Daily Telegraph that Andrew’s firm is not closed, simply, “in a pause position while its future direction and strategy is determined.”
They said: “Pitch@Palace Global Ltd can confirm that director Johan Eliasch has stepped down and has been replaced by accountant Arthur Lancaster.”
“The Duke is grateful to the oversight provided by Johan Eliasch since his appointment in May 2019. Pitch@Palace Global remains in a pause position while its future direction and strategy are determined and whilst its operations continue to be significantly impacted by Covid restrictions.”
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Royal Family News: COVID Has Taken a Toll on Prince Andrew’s Firm?
It had been thought that the business would relaunch in spring this year with a new name, Pitch Connect. However, a source told the Telegraph that as long as its ownership is under review, all forward movement is at a standstill.
So, what exactly does Pitch@Palace Global do? The company’s mission is to broker deals between tech start-ups and wealthy investors. Which sounds like it’s a middle-man in other words.
Documents from last March found the company’s assets were down from £3,125,398 to £1,495,737.
Royal Family News: What Happens Next to Prince Andrew’s Company?
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Pitch@Palace Global remained one of Andrew’s few remaining business interests with Eliasch the rare loyal friend after his connection to dead convicted pedophile Jeffrey Epstein blew up.
Afterward, the company removed all references to Prince Andrew from its website and the charitable arm of his firm was shut down. The FBI is requesting that he talk to them about what he knows concerning Epstein, a request they say has gone unheeded.
According to The Daily Telegraph, Pitch@Palace Global was moved from a Buckingham Palace office and is now in a private office in London.
Following his public exposure, the Duke of York said in a statement that he asked the Queen to be allowed to temporarily step back as senior royal, a move that looks to be permanent with each passing day.
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