Mar­ion Mcmullen looks at stars who faced bank­ruptcy

South Wales Evening Post - - SMARTER FOR 10 -

FORMER glam­our model and ex-loose Women pre­sen­ter Katie Price, pic­tured left, was once said to be worth more than £40 mil­lion, but has just been given 12 weeks to pay off her debts. The 40-year-old, formerly known as Jor­dan, avoided bank­ruptcy after reach­ing a deal with her cred­i­tors this week. Her rep­re­sen­ta­tive said later she was work­ing with her ad­vis­ers to re­solve her cur­rent fi­nan­cial is­sues. GE­ORGE Best was the golden boy of foot­ball in the 1960s. He in­vested in shops, bars and a night­club, but was made bank­rupt in 1982 over un­paid taxes of £22,000. The Manch­ester United le­gend once said: “I spent a lot of money on booze, birds and fast cars – the rest I squan­dered.” NIGHT­CLUB owner Peter Stringfel­low bounced back when his three Amer­i­can night­clubs went into liq­ui­da­tion in 1993 fol­low­ing the eco­nomic re­ces­sion and he was de­clared bank­rupt. The “King of Clubs” was thought to be worth more than £30m when he died in June this year. EC­CEN­TRIC Bri­tish boxer Chris Eubank was world cham­pion for five years, but was de­clared bank­rupt back in 1995, with a tax bill for £1.3 mil­lion. He has said: “Not be­ing born to par­ents who were ac­coun­tants was prob­a­bly my big­gest mis­take.” THINGS went sour for Atomic Kit­ten’s Kerry Ka­tona after the group broke up. She was de­clared bank­rupt in 2009 over tax bills of £82,000. She was de­clared bank­rupt again in 2013. In­ter­viewed on ITV’S This Morn­ing in Septem­ber, the 38-year-old said of her life: “Steven Spiel­berg couldn’t write most of that. I think I’ve done re­ally well to over­come it.” WESTLIFE singer Shane Fi­lan was forced to sell his Sligo man­sion and de­clare bank­ruptcy in 2012 with debts of 23 mil­lion eu­ros. It fol­lowed the col­lapse of his prop­erty com­pany which had taken out loans dur­ing the eco­nomic boom. He later said: “I was very scared, ob­vi­ously, but you’ve got to keep look­ing for­ward.” TV PRE­SEN­TER Gail Porter was de­clared bank­rupt last year over tax ar­rears and says work stopped when she lost her hair to alope­cia. Gail, whose rear was once pro­jected onto the Houses of Par­lia­ment, said she even slept for a time on a park bench be­cause she was too ashamed to ad­mit she had lost her home. GAMESHOW pre­sen­ter Ted Rogers was one of the best known faces on ITV thanks to gameshow 3-2-1. It was watched by up to 17 mil­lion view­ers and brought him in £130,000 a year in the early 1980s. How­ever, a failed busi­ness ven­ture saw him de­clared bank­rupt in 1992. His last Mercedes was re­pos­sessed when he was sign­ing au­to­graphs for fans, but he made sure all his cred­i­tors were paid. FORMER I’m A Celebrity win­ner Christo­pher Big­gins went into vol­un­tary bank­ruptcy after his work on Sur­prise, Sur­prise with Cilla Black ended and job of­fers evap­o­rated. He says it took just over a year to re­pay his cred­i­tors. EX-EASTEN­DERS ac­tor Joe Swash won the 2008 se­ries of I’m A Celebrity Get Me Out Of Here, but he was de­clared bank­rupt a year later and again in 2013. He said: “I fell be­hind on tax and bills and buried my head in the sand... I should have faced up to it.”

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