TOWIE legend Pete Wicks has shut down his PW Promotions business – just weeks after quitting the ITVBe show.
The reality star, 35, signed off paperwork last month which revealed more than £100,000 worth of debt at the firm.
Pete Wicks has shit down his PW Promotions business
Paperwork revealed more than £100k worth of debt at the firm
The statement of affairs, filed at Companies House yesterday, reporting VAT owed at £7,477, corporation tax owed at £66,702 and £26,500 in monies owed to Lloyds Bank.
Liquidators Carter Clark do not expect to raise any money to help pay the debts – which total £100,680.
With nil reported under funds ‘estimated to be realised.’
PW Promotions was set up by Pete in 2015 to deal with his earnings from TV work.
Pete has drawn up six sets of accounts for the firm – most recently reporting £120,826 worth of assets and retained profits at £481 for the year ended 30 June 2021.
Tax liabilities at £80,532 were sitting on the books as well as an £8,000 bank loan, as well as monies owed to ‘other creditors’ at £31,333.
PW Promotions is one of three live firms for him.
His other business comprising Unkempt, set up in 2021 and dormant as at latest accounts; as well as TCDOR set up in November.
His previous companies comprised Hermano Clothing and Pirate Pete’s Tattoo both opening and closing without doing any business.
It comes after The Celeb Report revealed that Pete had sensationally quit Towie after seven years.
A source told how the tattooed hunk wasn’t getting along with a host of his “fame hungry” castmates, prompting his decision.
Pete stunned telly fans when he announced his TOWIE exit last month.
The show lothario joined TOWIE in 2015 and became a regular in Season 15.
He was friends with co-star James Lock before appearing on the ITVBe show.
An insider has now told The Celeb Report: “Pete wasn’t getting on great with some members of the cast as he thought a lot of them were just fame-hungry and not very authentic, especially some of the newer members of the show.
“By the same token, a lot of the cast felt like Pete acted as if he was over it and above the rest of them, so they were relieved when he announced he was leaving.”
The reality star sensationally quit Towie after seven years
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