Mystery as Tommy Mallet insists he’s ‘not skint’ despite revealing he’s ‘sold all assets’ after massive tax bill
TOMMY Mallett has insisted he's "not skint" despite selling off his assets.
The former Towie star, who fronted two fashion brands, hit back after sparking claims he had cash flow problems.
It all started when he stepped down as creative director of his eponymous footwear brand Mallet in October.
He revealed last year: "On the 31st of October I stood down from my role at Mallet London, the company I love and always will do, for many reasons.
"I've done all I set out to accomplish with this brand, and I'm forever grateful for what I've learnt and who I've met."
This week the reality TV star, who is married to Towie's Georgia Kousoulou, 32, offered a fresh insight into his financial affairs after cutting ties with his business partner.
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He told fans in a post on Instagram: "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.
"The amount of people who turned on me and backed the wrong horse, I'm not upset with you I'm just disappointed."
Following the news he'd sold all his assets, Tommy denied he was out of pocket.
He then insisted he still had financial assets, still owned Mallet, and he plugged his younger fashion brand, CTRNE.
In a video last night he attempted to clear up the confusion.
He said last year: "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.
"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 shot to fame in 2014 when he joined ITVBe's Towie.
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He met his wife Georgia on the show and they tied the knot last year.
The couple share a son called Brody.
How did Tommy Mallet make it?
Tommy's upbringing was what inspired and gave him so much motivation to do well in his career.
The former Towie star grew up on a council estate in London and left school with no GCSEs.
His upbringing was what inspired him to create his own footwear brand - as he was never able to wear fashionable trainers as a kid.
In 2015 he launched Mallet and within five years he made 11.8million sales.
His shoes are sold worldwide in over 150 stores.