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Kitten Star Declares Herself Bankrupt for the Second Time

Written by: Keith Tully

Reviewed: Thursday 4th July, 2013

As far as ups and downs go, Kerry Katona has been through it all.

The mother-of-four has been married twice, once to former Westlife member Brian McFadden and then to taxi driver Mark Croft; and she was declared bankrupt in 2008 after failing to pay the final £82,000 of a £417,000 tax bill.

Recently it seemed that the reality star was back on track, reuniting with the girl band Atomic Kitten for the ITV2 show ‘The Big Reunion’ and getting engaged to her personal trainer, George Kay.

However, the celeb has declared herself bankrupt for the second time in five years due to unpaid debts.

The 33-year-old has filed a petition at Wigan County Court under the name Kerry Jane Elizabeth Katona.

Earlier this year, the singer controversially became the face of payday lender Cash Lady. The endorsement deal attracted a lot of criticism given her own money troubles and now it has been reported that the firm has in fact dropped her.

A spokesperson from PDB UK Ltd, which trades under the name Cash Lady, told The Daily Mail: “We were sorry to hear about Kerry’s current financial situation. Clearly, as a business, we are committed to responsible lending, so it is with sadness that we will not be able to continue using Kerry as the face of Cash Lady.

“We enjoyed working with Kerry a lot, and we wish her all the best in her future endeavours.”

Cash Lady had one of its TV adverts featuring Ms Katona banned by the Advertising Standards Agency (ASA). In the ad, the celebrity referred to her own financial woes saying: “We’ve all had money troubles at some point, I know I have. You could see your bank and fill in loads of forms, but is there an easier way to get a loan... So if you need extra cash go to www.cashlady.co.uk. Fast cash for fast lives.”

The advert was revised in accordance with rules set by the advertising regulator.

Despite declaring bankruptcy again, the reality star is trying to stay positive, tweeting: “Morning twitter! Hold your head high and be proud, never be ashamed! Always try your best and believe in yourself! Have a great day xxx.

“No matter what life throws at you, hold your head high and know you’ve done your best!! :-) xxxx.”

If like the high-profile celeb your business is suffering from debt issues, Real Business Rescue can help. We specialise in helping businesses that are struggling to cope and are facing bankruptcy.

Get in touch with us today by clicking here and let’s get you back in the black. 

Keith Tully

Keith Tully

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Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

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