The current economic downturn has caused the Duke of York to be £30,000 out of pocket.
The British royal put the hefty sum down as a deposit to rent a luxury chalet in Klosters for next year's ski season, but the company he booked has since gone into liquidation.
The Prince was looking to stay at Chalet Eugenia, the luxury pad built by Baroness Thyssen-Bornemisza in the ski resort’s early years, and he had booked it to coincide with the annual World Economic Forum in Davos next year.
Descent International, whose past clients have included JK Rowling, Rowan Atkinson and the Beckhams, collapsed this week leaving debts of nearly £1.5 million.
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