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Mohamed Hadid's company, 901 Strada LLC, filed for bankruptcy on Wednesday, ET confirms.
According to court documents obtained by ET, the real estate tycoon and father of Gigi and Bella Hadid has declared the company is between $10 million and $50 million in debt. The news comes a week after a judge reportedly declared that Hadid's Bel-Air mega mansion is dangerous and must be demolished.
The court documents state that the mansion needs immediate attention and to be physically secured or protected from the weather.
Hadid says he's over $386,000 in debt to a design and management company and over $200,000 in debt to a building materials company. He also says he owes over $93,000 to a demolition company, over $46,000 to a welding company and over $35,00 to plumbers.
News of Hadid's company's bankruptcy came the same day that Bella announced she was donating 600 trees to be planted in an effort to compensate for the carbon footprint she leaves behind due to her frequent traveling.
"Donating 600 trees to be planted , 20 for each flight I took these past 3 months and probably will continue for the rest of the year," the model wrote on Instagram. "It makes me sad how much my job effects my carbon footprint and of how brutally climate change is obviously effecting the world. Mother Nature needs some love...???."
"I’ll be starting with my home in California ( 129 million trees need to be restored re: wildfires, 1.3 million acres burned) and of course the Amazon for the most recent wildfires, but please reach out and let me know which locations need to be shown some love as well , all regions welcome?? Africa, Asia, North America, and Latin America?," Bella continued. "This is so exciting and interesting to me, that even though I’m not physically there, trees are being brought to life in the most incredible places that are in demand of them! it’s the air we breathe, the water we drink, the biodiversity and animal life we need..???."
She concluded her message: "I know it’s not much , but when I fly, I look out the window and see so many beautiful, extensive forests, so much land and trees but also so much that needs lots of help.. think about the animals too? anyways . once I get home I’m definitely planting my own tree outside. so inspired by my friends ?????? ps I did some research and onetreeplanted.org is probably the easiest website I’ve found to donate to multiple regions at the same time, if you’re interested:)."