HONEY G’S DEBT RAP
X Factor hopeful’s agency goes bust’ owing money
X FACTOR star Honey G is being rapped for walking away from her recruitment agency leaving it owing cash.
As the sunglasses-wearing rapper, 35, entertains millions in the live ITV shows at least one creditor is unimpressed.
She signed a contract in July with Leeds-based Intelligent Business Transfer to sell her recruitment agency.
Now the firm says the rapper owes it £1,000 for advertising materials and a brochure for prospective buyers but she is pleading poverty.
On its registration form the Honey G – real name Anna Georgette Gilford – agreed to pay £1,000 up front and £6,000 commission if the firm found a buyer for ARG Search.
The contract revealed in July she valued the five-year-old agency at £ 499,000, with a turnover of £ 520,000 and a £52,000 net profit.
But last month when she finally got back to Intelligent Business Transfer, which had withdrawn its services, she said ARG had gone bust. The rapper, from “North Weezy” – North West London – emailed the firm to say she couldn’t pay her debt. It read: “Unfortunately my business is now insolvent. I have no assets and no money in the company. I cannot afford to pay your bill. “I have also taken indefinite leave from my business to compete in the live finals of X Factor. I’m looking now to leave my business and pursue a full time career as a rap music artist. Sorry.”
A source said: “They were really miffed as they acted in good faith and did work on her behalf, leading them to believe she had a successful firm worth selling.
“She never told them about X Factor and disappeared in the summer, leaving them to work for her for no money.
“When they eventually withdrew their services and claimed their fee. Suddenly the business was listed as being worth £1 on Companies House and she was saying she had no assets and no money to pay off the debt. The fame’s gone to her head. She thinks she is better than any one else and no longer has to pay her debts.”
A source close to Honey said: “Honey took advice on the valuation of her company as she’s not qualified to value it herself. Since then the company has decreased in value as it has lost contractors and is no longer trading.
“Any remaining funds were used to pay debts, tax and bills. She has no remaining funds to pay off outstanding creditors.”