Paul McCartney’s wife Nancy Shevell’s family firm has declared bankruptcy after racking up millions in debt

SIR Paul McCartney’s mega-wealthy wife has had to declare her family firm bankrupt after it racked up millions of dollars in debt.

Nancy Shevell, 59, who is worth around £120million, is said to be “very sad” about the closure of the US-based trucking company.

Sir Paul McCartney
Nancy Shevell did not ask her Beatles lover Sir Paul McCartney for a bailout
Getty – Contributor

She did not ask her Beatles husband, 76 — who has an £820million fortune — for a bailout. The company, called New England Motor Freight Inc, was founded by her dad Myron in 1977.

According to papers filed at the US Bankruptcy Court in Newark, New Jersey, last week, it owes between $50million and $100million (£64m and £129m).

A source said: “Nancy is very sad. It’s the end of an era.

“No one wants to see a business fold or people losing jobs. But the trucking industry is becoming increasingly competitive and the company was haemorrhaging cash.”

Sir Paul McCartney
Nancy has held various positions at her family’s firm, including vice-president
Getty – Contributor

The source went on: “Nancy discusses her affairs with Paul but this is nothing to do with him. He didn’t volunteer his cash and she wouldn’t have expected him to.”

Nancy has held various positions in the firm, including vice-president.

The closure comes just days after it was revealed that David Beckham ploughed £22million into his wife Victoria’s ailing fashion empire.


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