The Duke of York is the latest victim of the recession. Around £30,000, which was put down in his name as a deposit to rent a seven-star luxury chalet in Klosters for next year's ski season, has been lost because the chalet company he booked with has gone bust.
The Prince wanted to stay at Chalet Eugenia, the fabulous pad owned by former playboy Baron Steven Bentinck, and he had booked it to coincide with the annual World Economic Forum at neighbouring Davos next year.
But Descent International, the luxury ski company through which Andrew made the booking under his subsidiary title, the Earl of Inverness, has collapsed leaving debts of nearly £1.5 million.
The Duke first stayed at Chalet Eugenia for the Davos forum earlier this year, when he hosted a drinks party for guests including Business Secretary Lord Mandelson and Shadow Chancellor George Osborne.
I am told he liked the house so much that he decided to book it again for next year's forum.
The chalet sleeps 15 in the lap of luxury, and has what is described as arguably the finest - and largest - master suite in the Alps, with a roaring log fire in the bathroom as well as in the bedroom.
But Descent International - whose past clients have included disgraced banker Sir Fred 'the Shred' Goodwin, J.K. Rowling, Rowan Atkinson and the Beckhams - collapsed this week following the failure of a re-financing deal.
Prince Andrew's lost deposit, however, is nothing compared to that of billionaire Tory treasurer Michael Spencer - who is thought to have forfeited around £5 million in the collapse.
He is one of the major shareholders of Botiga Holdings, which is the parent company of Descent.
'He put his hand in his pocket to try to keep Descent going, but, sadly, it hasn't worked,' I am told.
Prince Andrew booked for the week starting January 24. The brochure price is £5,833 a person.
But the chances of him getting anything back are slim, not least because the firm did not offer packages including flights, and therefore did not have a licence from ATOL, the travel regulation body.
