Joey Essex’s Performing Arts Company Owes £1.3 Million Debt

Joey Essex, the reality TV star known from Love Island and The Only Way is Essex, is facing significant financial troubles with debts totaling around £1.3 million through his performing arts company, Joey Essex Management Ltd. He failed to repay a £780,000 loan taken from the company, and liquidators are uncertain if the overdrawn director’s loan will be repaid despite his earlier Declaration of Solvency claiming the company could settle its debts within 12 months. Additional debts include £442,303 owed to HMRC for VAT, PAYE, corporation tax, and court costs, as well as amounts owed to Coutts bank and Companies House. His company was taken to the High Court by HMRC and served with a winding-up petition, and the business has been forced into liquidation. Essex is the sole director and shareholder of the company, which he set up in 2011, and although he has earned millions from various TV shows, including presenting and reality competitions, his financial liabilities have worsened, with some companies dormant or closed down. Despite attempts to address the debts, including a recent move into boxing reportedly earning him a £500,000 payday, the future ability to cover the debts remains uncertain, and he may face legal issues over the solvency declaration and late filing of accounts.