cash flow crisis
Towie’s Tommy Mallet hinted at secret money troubles MONTHS ago as he sold £200k supercar and reveals massive tax bill
The star is determined to build himself back up again
TOMMY Mallet hinted at his secret money troubles last year when he got rid of a £200,000 supercar.
The 31-year-old has now revealed he sold off everything after being hit with a huge tax bill – not long after stepping down as director of his multi-million-pound luxury footwear brand Mallet.
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Tommy, who is married to Georgia Kousoulou, previously insisted he had "no money" during an appearance on the Getting There podcast towards the end of last year.
He gave fans an insight into his financial situation and told how his life changed when Georgia, whom he shares son Brody with, suffered a heartbreaking miscarriage.
He said: "I've got nothing financially at the moment.
"I basically made an acquisition in January, it was quite a big one and it was to buy some shares back for Mallet.
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"I put money into Mallet to get my shares back up thinking that I was going to go and basically build the next year, just full force.
"And obviously, after seeing you, I lost the baby. That turned my whole world around and I was like, something needs to change.
"I basically started from scratch. I've got the biggest tax bill ever."
Tommy also shared the reason he decided to .
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He said: "So when the fuel prices are going up and me putting petrol in the car, it makes no difference to me money-wise.
"If you're driving a £200K car, doesn't matter does it?
Georgia Kousoulou and Tommy Mallet’s incredible £1m Essex mansion
"When I pull up at the petrol station and you've got my man struggling to put a tenner in his car to get to work, do I want to be pulling up in the £200K motor jumping out, putting it in the car, jumping back in.
"No man, that's not who I want to be. I want to be relatable. I want to be able to come across as a normal person."
LATEST VENTURE
The star has stepped out on his own to launch a new sneaker brand called CTRNE.
Over the weekend, Tommy updated fans on his financial situation and revealed that - following a "four-month battle" - he's offloaded all of his assets after stepping away from the brand in October.
I've sold all my assets to defend myself and starting from scratch, but I've got some wonderful companies and I will give it my all to get it back so my family can continue living the life I worked so hard to give them
Tommy Mallet
In a lengthy and emotional post, he shared: "It's probably not over, but as it stands I can work and support my family.
"I've sold all my assets to defend myself and starting from scratch, but I've got some wonderful companies and I will give it my all to get it back so my family can continue living the life I worked so hard to give them."
Tommy added: "Just call me the monk who's sold his Ferrari for a bit."
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