Ant and Dec facing £2.5m loss as villa firm goes bust
TV STARS Ant & Dec and Phillip Schofield reportedly face losing millions of pounds each after an exclusive Algarve resort where they bought luxury villas went into liquidation.
ITV stalwarts And and Dec put down £2.5million deposits on adjacent top of the range holiday homes near an exclusive golf course in Portugal in 2015.
However, developers of the plush Keys resort, Birchview Imobiliaria, owes £250million to a government bank and last year the bank rejected its proposed rescue deal.
Now the trio are apparently fighting the threat of their holiday homes being repossessed.
Contracts
Court files show Ant and Dec and Phillip paid deposits on their villas, signing preliminary contracts, which in Portugal normally involves a down payment of a third of the total, with full ownership only taking place upon payment in full. This Morning host Phillip, 56, is listed on official documents as being owed £1.5million.
The Geordie duo, who both live in Chiswick, west London, apparently picked properties with a rooftop pool, plus a luxury basement level including a cinema, bar, kitchen and staff quarters.
Presenter Phillip’s villa is said to be an Art Deco-inspired six-bed home with a giant atrium and personal lift to a sky garden. The three plots are close to exclusive Quinta do Lago golf course.
Troubled Ant, 42, is recovering from alcohol and drug addiction with new girlfriend Anne-Marie Corbett, 42.
He split from estranged wife Lisa Armstrong in January.
Dec, also 42, will host I’m A Celebrity...Get Me Out Of Here! in November alongside Holly Willoughby after his showbiz partner announced he was taking a year out.