Secret Millionaire declared bankrupt

03/09/2009

A self-made property tycoon who took part in Channel 4's Secret Millionaire has been declared bankrupt.

Chek Whyte, who gave away thousands of pounds to good causes in Salford in the TV show, was reportedly in £30 million of debt and attempted to make arrangements to keep his business trading while he attempted to cut the deficit.

However, Leicester county court declared him bankrupt after Mr Whyte's proposals for an Individual Voluntary Arrangement were withdrawn and "no further proposals were put to creditors", law firm Pannone said.

According to the BBC, the bankruptcy is thought be one of the biggest cases of its kind.

The businessman had previously told the corporation he would continue working "to get everybody paid".

Pannone, which was acting on behalf of Hall Furnishings, said Mr Whyte's TV appearance had "portrayed him as an altruistic individual" but his business dealings left him owning tens of thousands of pounds to suppliers.

Tags; Income Worries and Debt, Young Family Finances, Credit Card Lifestyle,

Regional Debt Advice; Debt Advice Alford, Debt Advice Alford, Debt Advice Leicester, Debt Advice Salford,

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