Taking Stock – PKF auction turns out pants.

As any accountant involved in insolvency issues knows only too well, business collapses involve all sorts of drama and emotion.

The proprietor of the venture in question faces particular pressures – not least the potential loss of all manner of personal assets in the struggle to raise money to pay off creditors.

It is rare for such people to throw their wholehearted enthusiasm into this painful process, and most will struggle to protect at least the clothes they are standing up in. But not, it seems, supermodel Claudia Schiffer.

Entering into the spirit of things at last week’s auction of the last assets of her failed business venture, the Fashion Cafe, the catwalk beauty went so far as to donate a pair of her knickers.

The auction catalogue described them as a ‘pair of Chanel white cotton knickers bearing makers label and logo.’ Pannell Kerr Forster, the administrators, said it was unsure whether or not they had been worn.

TS ponders whether this is a sign of some sort of tough new crackdown by insolvency specialists, and wonders what items the next supermodel to suffer the indignity of a business collapsing will find herself surrendering. ?:

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