James Middleton has set up a business for the "happiness and wellbeing" of dogs.
James Middleton has launched a business for the 'happiness and wellbeing' of dogs
The 34-year-old entrepreneur – the younger brother of Catherine, Duchess of Cambridge – has formed Ella & Co, which is named after his spaniel.
The enterprise, which provides posh food for pooches, is managed by the company Hello Ella Ltd and James is the sole director.
However, the Daily Mail newspaper reports that the venture is struggling to get off the ground as the business has amassed trading losses of £413,527 – up from £169,674 the previous year.
Losses at Hello Ella have been offset with significant injections of fund from investors as financial statements signed off by Middleton show the company raised £338,116 in investments during the year covered by the accounts to April 2021. Investors have now put in a total of £748,116 into the company.
According to the publication's Eden Confidential column, a note in the accounts says: "The director has considered the financial position of the company, both during the period and as a result of the COVID-19 pandemic, and has assessed both financial and operational risk.
"He is of the opinion that the company has sufficient financial resources to continue to operate as a going concern."
An associate of James, who has six dogs and credits the animals with helping him through "troubled times", believes the business has the potential to be successful in the future.
They said: "The business is actually doing really well. Like any start-up, there are big fixed costs at the beginning, and future accounts will paint a more positive picture."
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