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TAXING TIMES
Love Island star Scott Thomas’s company goes bust – owing £20k tax and Strictly star brother £127k
Here's just how much money the star owes
LOVE Island star Scott Thomas has cost his brother Adam more than £125,000 after his health and fitness company collapsed.
It was revealed in April that Scott’s company Food4Thoughts, which he started in lockdown, had gone into liquidation.
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His Strictly Come Dancing star brother Adam had invested in the company over the past four years as Scott aimed to build a business empire around food and fitness.
Scott set up the firm with airline pilot Eden Thomas, but he resigned from his director position late last year.
Unfortunately, now it’s collapsed, Adam is left £125,000 out of pocket.
Scott stands to lose £70,000 of his own money, while Scott Graham – a friend of the brothers and former chef at restaurant The Spinn – put in another £125,000.
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The HMRC is still owed £20,000 in unpaid tax bills, with company staff owed around £7k.
Scott pulled the plug on the project after the trio couldn’t afford to put anymore money into the business.
Insiders say the firm ran out of money after failing to attract enough members who paid up to £100-a-month for fitness, weight loss and nutrition tips.
The firm also organised workouts and park run-style events.
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The most recent accounts filed last year showed the company - called F4Thoughts Ltd - had creditors of £366,143 - including investors and the tax office - and with assets and cash reserves taken off, the outfit was £299,487 in the red.
Our source said: "The concept was great and members loved it but the firm needed more people and they weren't signing up and Adam and Scott simply couldn't commit any more cash to the venture."
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After announcing Food4Thoughts was closing, Scott wrote online: "It's mad to think through transforming my own life in 2020, I got to help transform hundreds of people's lives over the last 3 and half years...
"The gift of being able to inspire people is something I will never take for granted and it's not something l'Il be leaving here…..
"Grateful for the memories, grateful for the lessons, grateful for the people I've met along the way... @food4thoughts may have run its course but I will continue to run mine...see you at work."
The Sun has reached out to Scott Thomas's rep for comment.
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