My Celebrity Life

Simon Cowell gave up his own wage after TV company profits got ‘battered’ in coronavirus pandemic

Simon Cowell gave up his own wage to pay staff as TV company profits fell during the coronavirus pandemic.

Accounts for SimCo Ltd show that between October 2019 and March 2020, a profit of £5.8million was made, a substantial fall from £34.6 million made over an 18-month period also covering 2019.

In turn, Cowell – who gave up the business in September 2020 – didn’t take a paycheck and neither did the two new directors.

Documents filed at Companies House for SimCo Lt revealed the company accrued £17.7million in 2020, which is down from £65.5million the year before.

It comes after filming on Britain’s Got Talent was suspended due to the pandemic and The X Factor pushed back until 2022.

An insider said: ‘Everyone in the TV industry has been hit by the pandemic and Simon’s company has taken a ­considerable battering.

My Celebrity Life –
Simon Cowell on Britain’s Got Talent (Picture: Rex)

‘With The X Factor rested and BGT plagued by issues, it’s been a slow year. Simon is a savvy businessman, however, and he’s no doubt going to be back on top over the next 12 months.’

The 2021 series of Britain’s Got Talent was recently postponed due to the coronavirus pandemic. The third lockdown in England, which is set to last until mid-February at the very earliest, has meant filming for the next series is unable to go ahead as planned.

Simon was also absent from the judging panel for the live shows during the previously series in 2020, after breaking his back and staying at home in the USA to recover.

Ashley Banjo filled in for Simon, alongside Amanda Holden, David Walliams and Alesha Dixon.

Meanwhile, it was reported at the end of last year that Simon is on his way back to full health and walking more than 10,000 steps a day.

 


Credit: Original article published here.

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