Lisa Ho: Fashion label owes $11 million to creditors, but Ho scores $500K Bentley

THE financial ruin of her fashion companies appears a world away for designer Lisa Ho, who has been spotted at the wheel of a new $500,000 luxury car.

Australian fashion designer Lisa Ho

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THE financial ruin of her fashion empire appears a world away for designer Lisa Ho, who has been spotted at the wheel of a new $500,000 luxury car.

The embattled rag-trader, whose companies Lisa Ho Designs and Lisa Ho Retail went into liquidation in 2013 with debts of about $17 ­million and left 100 employees out of jobs, has been spotted driving a brand spanking new Bentley.

Ms Ho’s companies still owe $11 million to suppliers following the liquidation.

When contacted by The Daily Telegraph yesterday, Ms Ho said the car was a Christmas gift from her ­fiance Nick Jacenko, father of PR dynamo Roxy Jacenko, who also drives a Bentley.

The news the couple were engaged came as a complete surprise yesterday.

However, for creditor Mac Elsegood, the fact Ms Ho is driving around in a luxury car while still owing him money was more of a surprise.

Australian fashion designer Lisa Ho

“We had a long and happy relationship and had done business with her for many years,” said Mr Elsegood, who sold silk to the twice-married mother of three.

“We got on very well ... but we haven’t heard anything. She owed us quite a lot of money at the end because she had bought quite a lot of silk and she always said ‘You know I will look after you – you know you will get paid.’ ”

When asked how much he was owed, Mr Elsegood, whose family has supplied high-end fabric to Australian designers for more than 60 years, said: “I won’t tell you the figure because that’s probably not polite, but let’s just say if you took the money into BMW, you could buy yourself a new 3 Series BMW and have change.”

Lisa Ho and Nick Jacenko with the new Bentley in Double Bay.

Mr Elsegood made the comment before being told about the Bentley. The news caught the 55-year-old by surprise: “Shit! My car is a 2002 model.

“Well, I am sure she looks beautiful in her $500,000 Bentley, but who wouldn’t?

“I like Lisa, and I have faith that she’ll come to the party.”

The luxury British-made vehicle was reportedly purchased from Trivett ­Bespoke in Alexandria on Christmas Eve.

Lisa Ho drives away in the new Bentley.