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Jessica Simpson is getting candid about her finances.
The star has been pouring her money into her business after she regained full ownership of her billion-dollar namesake fashion brand.
The 41-year-old recently made an appearance on “The Real” where she told the talk show hosts that she is “draining” her “bank account.”
“I have no working credit card. It’s OK. I will pay in cash,” she added. “I went to Taco Bell the other day, and my card got denied. I’m on a budget, ladies!”
JESSICA SIMPSON SPEAKS OUT AFTER RECLAIMING ‘100% OWNERSHIP’ OF HER BILLION-DOLLAR BUSINESS
Jessica Simpson is getting candid about her finances. The star has been pouring her money into her business after she regained full ownership of her billion-dollar namesake fashion brand. (John Shearer/Getty Images for Jessica Simpson Collection)
Elsewhere in the interview, Simpson said: “With money, there’s just so much fear attached to it. I’m the person that you get mad at at the blackjack table. I’ll put it all out there if it’s me that’s driving the show because I believe in myself and I know what I can do. And I know that nothing will stop me, and if you try to stop me, I’ll try harder.”
The singer and actress took charge of her popular Jessica Simpson Collection last year after its parent company, Sequential Brands Group Inc., filed for Chapter 11 bankruptcy protection back in August.
The 41-year-old recently made an appearance on “The Real” where she told the talk show hosts that she is “draining” her “bank account.” (Getty Images )
Since the filing, Simpson and her mother, Tina Simpson, have been hard at work behind the scenes getting the actress and singer her company back as she only owned just over a third of the brand – 37.5% – at the time Sequential Brands Group Inc. purchased a majority share from Camuto Group in 2015.
“It means the absolute world to me to be able to take over complete ownership of my brand,” Simpson told Footwear News at the time.
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“After 16 years in business, I feel ready to meet this next exciting phase with open arms. I know the sky is the limit when my mom, our incredible team and I lock into our customers completely.”
The singer and actress took charge of her popular Jessica Simpson Collection last year after its parent company, Sequential Brands Group Inc., filed for Chapter 11 bankruptcy protection back in August. (John Shearer/Getty Images for Jessica Simpson Collection)
Bloomberg reported in September that Simpson offered up $65 million to buy the brand back at auction.
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The brand is comprised of over 30 product categories, according to Forbes. In 2014, the outlet also noted that the brand brings in about $1 billion per year at retail.
FOX Business’ Julius Young contributed to this report
Source: www.foxnews.com