I worked for her years ago.
Long story short, she bought two houses in lower Manhattan and made them into her home and headquarters. They were beautiful historical buildings but under the skin they were totally run down.
So she spent millions more restoring them than she initially thought, and also had to spend several million fighting her neighbors who did not want the construction/ destruction of the historical buildings.
Because she only makes $2 mill a year from her Vanity Fair contract she consolidated all her dept into a single loan from Art Capital Group. The problem is not that she can't pay the loan, she just can't pay it fast enough, which is what the loan company is betting on.
Art Capital Group has done this with several notable artists so that they can take control of their catalogs, which is where the real money lies. Annie is not even late on her payments yet. She is being sued by Art Capital Group as a preemptive strike so they can start to consolidate her assets.
