The Queen’s grandson Peter Phillips — who appeared in a cringe-making television advert for Chinese milk claiming, ‘This is what I drink’ — is using his nous to keep his business in the running during lockdown.
For I can reveal that Princess Anne’s son has quietly taken advantage of the Government’s scheme to help businesses struggling to pay their bills during the pandemic.
He has put a sixth of his staff on furlough at City Racing, the Mayfair-based business he launched amid great fanfare in 2018 with plans to hold horse races in urban spots such as the Champs-Elysees and Sydney Harbour Bridge.
The Queen’s grandson Peter Phillips — who appeared in a cringe-making television advert for Chinese milk claiming, ‘This is what I drink’ — is using his nous to keep his business in the running during lockdown
‘Peter has no money coming in, so this made sense,’ one of his friends tells me.
The Coronavirus Job Retention Scheme involves taxpayers paying up to 80 per cent of the wages of staff on furlough.
Last month, Phillips told me the business was struggling in the crisis.
‘Unfortunately, like so many, City Racing has been impacted by the pandemic,’ the Queen’s eldest grandchild said, adding: ‘It’s a well-capitalised business that has invested significantly in research and safety development.
He has put a sixth of his staff on furlough at City Racing, the Mayfair-based business he launched amid great fanfare in 2018 with plans to hold horse races in urban spots such as the Champs-Elysees and Sydney Harbour Bridge
‘Successful test events have taken place with the aim of running the first City Racing event in 2021.’
He spoke as the company disclosed that it was nursing £1million in trading losses, almost double the £573,141 the previous year.
City Racing had six employees at the time of its latest accounts.
Princess Anne refused titles for her children, Peter and Zara Phillips, and they have always had to work for a living.
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