Britain’s Got Talent finalist and student landlord Liam Collins is facing bankruptcy over the £1 million debts of a failed property business.
Collins, 33, is a familiar face in Newcastle upon Tyne, where he is regularly seen entertaining crowds with street dancing.
His talents took him to the finals of hit TV talent show Britain’s Got Talent in 2009 - where he lost to superstar singer Susan Boyle and dance troupe Diversity.
While seeking stardom, Collins was also running a student letting business with a portfolio that numbered 30 properties at one time.
The business faced financial difficulties after what he admits was a series of ‘naive’ business decisions that led to banks pulling loans.
To keep the business going, Collins and his partner offered security against their own homes, a bankruptcy hearing in Newcastle heard.
One investor wants to make Collins bankrupt, but Collins is trying to hatch a plan with more than 20 investors to hand them the letting properties and to enter an individual voluntary administration (IVA).
“We borrowed money to buy properties to let them in student areas, but eventually the lending was withdrawn and the market crashed,” he told the Newcastle Evening Chronicle.
“We are not declaring ourselves bankrupt, but one of the investors is making us bankrupt. We’ve made big mistakes in business but we’ve not defrauded anyone. If it takes me 50 years of dancing then I’ll pay back the money. We are incredibly sorry.”
Former Aston Villa star Lee Hendrie was declared bankrupt over a failed property deal that contributed to him owing HM Revenue & Customs £200,000 when a tax avoidance scheme turned sour.
Hendrie, who played once for England, was earning £24,000 a week in his playing days and owns a £1.6 million home and another property in the Midlands.
