Best known for appearing on the Channel 4 TV series, Secret Millionaire, the property developer Chek Whyte has now been declared bankrupt, with debts of around £30 million.
The TV project saw Mr Whyte give money to deserving causes in Salford, but the self-made millionaire’s business of renovating rundown listed buildings has struggled as the downturn in the property market took hold.
Mr Whyte allegedly put forward proposals to take on an individual voluntary arrangement (IVA) to pay back creditors, however these were later withdrawn and a court was forced to make the bankruptcy order.
Lawyers have said that his bankruptcy could be one of the biggest cases of its kind.
Manchester-based law firm, Pannone LLP, acting on behalf of creditors, stated: “Mr Whyte's exposure on TV has portrayed him as an altruistic individual but sadly his business dealings have left him owing suppliers tens of thousands of pounds and these businesses have to take steps to recover monies owed to them.”
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