The company, called New England Motor Freight Inc, was founded by her dad Myron in 1977.
According to papers filed at the US Bankruptcy Court in Newark, New Jersey, last week, it owes between $50million and $100million (£64m and £129m).
A source said: “Nancy is very sad. It’s the end of an era. “No one wants to see a business fold or people losing jobs. But the trucking industry is becoming increasingly competitive and the company was haemorrhaging cash.” The source went on: “Nancy discusses her affairs with Paul but this is nothing to do with him. He didn’t volunteer his cash and she wouldn’t have expected him to.”
Nancy has held various positions in the firm, including vice-president.
Paul stepped out with wife Nancy Shevell in London on Tuesday afternoon.
He easily mingled with pedestrians and tourists during a walk through Hyde Park, close to the Serpentine, in London.
Their appearances comes just days after Paul joined James Corden for the carpool Karaokes segment of his hugely popular The Late Late Show.
James, 39, giggled like an excited schoolboy as he belted out the lyrics to Drive My Car with The Beatles icon.
Casually-clad Paul put on an animated display as he sang loudly and rocked out with the funnyman in the plush vehicle.
They could be heard singing: ‘Yes, I’m gonna be a star / Baby, you can drive my car / And maybe I’ll love you.’ James and Paul were in high spirits while they sang the chart-topping band’s 1965 song for the hilarious segment.
The Peter Rabbit star confessed it was ‘mind-blowing’ to have the ‘most respected musician on the planet’ Paul join him for the segment.
He told: ‘It’s all memorable. It’s kind of insane, if you think about it — you’re talking about possibly the most famous person in the world.He’s the most respected musician on the planet, and that he would come to do a segment on our show is mind-blowing to me. He told me a story about how he wrote Let It Be, which I’d never heard before. It really moved me, so I can’t wait to share it with people.’
Paul has been made a Companion of Honour at an investiture ceremony at Buckingham Palace on Friday. Speaking about becoming a member of the order, which has a maximum of 65 members at any time, the former Beatles band member called the ceremony “a huge honour”.
In a statement to the Press Association, he said: “I see this as a huge honour for me and my family and I think of how proud my Liverpool mum and dad would have been to see this.” Paul was accompanied to Buckingham Palace by Nancy, who looked beautiful in a long navy suit jacket and matching hat.
Paul, was honoured for services to music, 20 years after he was knighted by the Queen. Ringo was knighted back in March. Speaking about the honour, he said: “A lot of people I don’t know wrote letters saying, ‘Congratulations, it’s about time,’ but for me the time is when it arrives, and that’s now. I just never thought of it. I just got on with my life and here we are. As I said, I’m just really surprised.”
Although members of the Order of the Companions of Honour hold no special title, those conducted are entitled to use ‘CH’ after their name. Other Companions of Honour include JK Rowling, Dame Maggie Smith and Sir David Attenborough.
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