Prince Andrew, the Duke of York, is the latest victim to the economic downturn.
Luxist reports that ski chalet rental company Descent International has gone into liquidation meaning that guests may lose their deposits for winter vacations.
A total of nearly £500,000 including a deposit made by the Duke of York might not be returned.
The chalet company offered the most exclusive winter chalets in the Alps at resorts like Courchevel, Verbier, Zermatt and St Moritz.
Descent International, whose past clients have included JK Rowling and the Beckhams, collapsed this week leaving debts of nearly £1.5 million.
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