Diary: Scott's chalet business descends into the abyss

Peter Scott may have ambitious plans to expands The Engine Group globally, but one of his other ventures has taken a tumble.

Descent International, the ski- chalet company he founded 12 years ago has gone bust leaving a trail of creditors across Europe. Unfortunately for the polo-playing Scott, who numbers Prince Charles among his friends, one of those creditors is the Duke of York.

During its heyday, Descent charged up to £55,000 a week to parties of well-heeled skiers to stay in the lap of Alpine luxury. The Beckhams, JK Rowling and the disgraced banker Sir Fred "The Shred" Goodwin were among those paying to be wined, dined and generally pampered.

Alas, the credit crunch appears to have pushed Descent over the precipice although the company says it's doing all it can to help guests who have booked for next season. Diary is sure Scott's social standing will remain intact.