Prince Andrew’s nonprofit Pitch@Palace is closing its doors in the U.K. as the company’s global arm is in the midst of a shakeup as a result of controversy surrounding the Duke of York’s association with financier and convicted sex offender Jeffrey Epstein, according to multiple reports.
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The duke, the second youngest of Queen Elizabeth II’s three sons, founded Pitch@Palace CIC in 2014 to “provide a platform to amplify and accelerate the work of Entrepreneurs,” according to its website. The company also has a global outlet, Pitch@Palace Global, which serves 59 countries across much of the world.
But Andrew’s U.K. platform, which was run out of Buckingham Palace and was funded through the Prince Andrew Charitable Trust, “will be wound down,” a source told The Telegraph, adding the three executives have also decided to step away from their roles.
“Pitch@Palace CIC will be wound down. The company belongs to the Prince Andrew Charitable Trust and the trustees met and decided to close it down. Pitch Global is going to carry on but because of the massive changes that have happened, three of the existing directors felt there was a need for a strategic review and they decided to step aside by resigning.”
A spokesperson for Pitch@Palace did not immediately respond to FOX Business' request for comment.
The duke, 59, announced in a statement in November he would be stepping "back from public duties for the foreseeable future” amid a flurry of media attention surrounding his friendship with the multimillionaire.
"It has become clear to me over the last few days that the circumstances relating to my former association with Jeffrey Epstein has become a major disruption to my family's work and the valuable work going on in the many organisations and charities that I am proud to support," he said, in part. He added: "I continue to unequivocally regret my ill-judged association with Jeffrey Epstein."
One of Epstein’s sex trafficking accusers, Virginia Roberts Giuffre, has repeatedly claimed she was forced to have sex with the duke in London in March of 2001.
On 12/23/19 this story was edited to reflect the birth order of Queen Elizabeth’s children.