DANCE FLOORED
Strictly stars’ flop business empires…from Nick Knowles’ sex toy disaster to Dragon who lost thousands while ON the show
One celebrity saw two firms fold in three months
STRICTLY Come Dancing has always made its stars sparkle on the dancefloor - but not all of them score perfect 10s when it comes to business acumen.
While they can quickstep and jive with flair, some of the show's biggest names have stumbled in the world of entrepreneurship.
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Last week, it was revealed that Adam Thomas' failed restaurant was under investigation after going bust with a £300,000 debt.
The Spinn, in Gately, Manchester, traded for three years before going under in 2022.
It was ill-fated from its launch - a year after opening, it was hit by COVID lockdown restrictions and forced to close.
Adam, 36, set up the firm with his friend Scott Graham and resigned as a director in 2021.
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Despite this, it has been reported that he will still be involved in the investigation into why the restaurant collapsed.
Adam was paired with Luba Mushtuk on last year's Strictly but was eliminated in week seven after losing a dance-off to Angela Rippon.
He is also a main cast member on Waterloo Road, where he plays Donte Charles and reportedly earns £200,000 for his acting work.
From sex toy firms that failed to arouse the interest of the public to bold ventures that didn't quite hit the mark, Strictly favourites have made some serious financial missteps.
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Pete Wicks
This year, Pete Wicks, 36, made history when he became the first cast member from The Only Way Is Essex to join Strictly.
While the lothario has been thrilling audiences with his dance moves, the same cannot be said about his businesses - as he saw two firms collapse within three months with total losses about £1million.
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After his entertainment form, PW Promotions Ltd, folded in February 2023, he was forced to sign a statement of affairs document confirming it was £100,000 in debt. A large chunk of the amount was owed to HMRC and the bank.
According to the latest liquidator's report, creditors' claims have now risen by £87,224. Additionally, HMRC is owed two amounts - £85,664 in VAT and £66,702 in corporation tax.
The claims now total £180,426, nearly double the amount Pete stated he owed when the liquidation process began.
Currently, the firm doesn't have any assets to pay any of the amount back.
It's not the first time Pete's businesses have underperformed. He was the co-founder of fashion company Happy Brands with his TOWIE co-star Jake Hall.
However, in November 2022, it was reported that the firm had losses of £796,258. The same day the losses were posted, Pete and Jake quit as directors.
After a year, the company became liquidated with a staggering debt of £795,463.
Nick Knowles
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Two years ago Nick Knowles, 62, launched his lingerie and sex toy company with his fiance, Katie Dadzie.
But earlier this year, it emerged this year that the firm was already in the red.
The couple are listed as directors for Boa Boa, which sells sex toys, lingerie, and lubricants, and each has a 50 per cent stake in the company.
But latest records show it is £15,203 in debt. Although the firm has assets of £34,000, records show that it has a mountain of bills to pay.
Katie has modelled for the company and has posed in its skimpy lingerie.
The news of the firm's debt came in August this year, shortly after it was revealed that Nick had signed up for this year's Strictly.
Nick, who has presented DIY SOS since 1999, was booted off the show last weekend after finding himself in the dreaded bottom two.
Hamza Yassin
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Wildlife photographer and presenter Hamza Yassin won Strictly Come Dancing in 2022.
But after a few months, it was revealed that the 34-year-old's company, Hamza Yassin Film and Photography Ltd, was over £55,000 in debt.
The Camden-based company was set up in 2014 and has always had financial troubles. Its latest deficit, however, is the highest it's ever posted.
In 2021, the firm listed £38,819 in losses. The previous year, it was £27,707. Hamza is the only director listed for the firm.
Earlier this month, documents filed at Companies House gave notice that the firm is due to be dissolved within two months with "all properties and rights" held being transferred to the Crown.
Hamza and his dance partner, Jowita Pryzstal, lifted the glitterball despite finishing at the bottom on the leaderboard in the final.
Ben Cohen
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Ben Cohen's journey on Strictly Come Dancing in 2013 was not without controversy.
Paired with Kristina Rihanoff on the show, the rugby ace left his wife of 11 years and began a relationship with the dancer.
But this year, it was revealed that the couple have been struggling to keep their relationship together after a series of financial woes.
The couple's money issues came to light after they appeared in court over Kristina driving her £30,000 Audi without a valid insurance.
According to Mail Online, Ben failed to submit records for a yoga studio that had accumulated a debt of nearly £500,000.
They set up Soo Yoga in Northampton, but the firm has failed to make money. It particularly suffered during the pandemic.
According to Companies House records, Soo Yoga Group Ltd was £488,470 in the red in its last submitted set of records for the year ending July 31, 2022.
Ben resigned as director in September after admitting in court they "fighting not to lose everything" including their relationship.
Strictly Come Dancing 2024 rich list
- Toyah Willcox was one of the biggest names to competing for the glitter ball on this year's Strictly. With a career that has spanned nearly 50 years, with hits including 'It's A Mystery’, ‘I Want to Be Free’ and ‘Brave New World', it's no surprise that she's worth £12million.
- For years, Nick Knowles - worth £7.3million - has been one of the BBC's most dependable personalities. He has presented shows such as Who Dares Wins, Break the Safe, and 5-Star Family Reunion. But he's most known as the host of DIY SOS, which he has fronted since 1999.
- Hockey star Sam Quek is known for winning a gold medal with Team GB's women's team at the Rio Olympics in 2016. She is said to be worth £4million, but that isn't just from her career as a sports star. She has also established herself as a TV personality.
- As one of the most recognisable faces on this year's lineup, JB Gill, 37, has had an incredible career that began with his boyband JLS. The quartet appeared on the X Factor in 2008 and, when they finished in second place, came close to being the first group to win the show. He is worth £3million.
- Pete, 36, was thrust into the spotlight thanks to his appearance on the ITV show The Only Way is Essex. Since then, he has become one of its breakthrough stars, worth £3million. Pete's podcast, Staying Relevant, with his best friend Sam Thompson, has been a huge success for the duo. Launched in 2022, it has been nominated for several awards with over five million downloads.
- Tom Dean is a hugely successful swimmer and has won three gold medals. In fact, he just won gold in the 4x200 relay at this year's Olympic Games. The 24-year-old has represented Great Britain at several competitions, including the European Junior Championships, World Championships, and Commonwealth Games. He is said to be worth around £2.3million.
- According to Celebrity Net Worth, Shayne Ward is worth £2.3million. The singer and actor won the X Factor in 2005 and scored a number one with the single That's My Goal.
- Love Island's Tasha Ghouri, is known for her background in dancing in music videos. The 25-year-old is worth £2million, which is very likely to shoot up after appearing on the show.
Sara Davies
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While competing on Strictly last year, it emerged that Dragons' Den star Sara Davies' company, Crafters Companion, was in serious trouble.
After being hit with reduced sales, the company was found to be £1million in the red, leaving uncertainties about its future.
Sara later revealed signing up for Strictly cost her more than she was paid - but said it was worth it to fulfill a lifelong dream.
“The cost to the business of me being essentially ‘missing in action’ for several months was in the hundreds of thousands – way more than the fee the BBC offers any of the contestants to do the show,” she wrote in her memoir.
She added: "I think there comes a point where you have got to weigh up that life isn't just about the money you make, it is also about happiness.
“Strictly had been a lifelong ambition of mine so everybody, the family, the staff in the business, everyone just rallied around to try and make it as seamless as possible.”
The business, which employs over 200 people worldwide, was already suffering, having recorded a loss of £1.27million, compared to a profit of £231,000 the previous year.
According to the firm's directors, the losses were caused by the COVID-19 pandemic, as well as high freight costs and tariffs on Chinese imports.
Sara, 40, told the Mirror: "I’m just going to be really honest, it has been a rough couple of years.
"And I kind of don’t want to shy away from that because I always feel, especially with my role on Dragons’ Den, I’ve got that responsibility of being a bit of a role model.
"I’ve had to work harder than I ever have in my life.
"We’ve been navigating all the other difficulties – the cost of living crisis, the raw materials cost increases, the energy crisis, war in , plus the effects of Brexit.”
In a statement, Crafters Companion's auditors said: "The group and the company has suffered from reduced sales orders post year end and is in breach of banking covenants.
"As stated … these events or conditions indicate that material uncertainty exists that may cast doubt on the group and company's ability to continue as a going concern."
Sara set up the company in 2005 while she was a business student at the University of York. By the time she graduated, the enterprise had a turnover of over £500,000.
Gregg Wallace
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In 2013, a greengrocer company partly owned by celebrity chef Gregg Wallace, 60, went bust with debts of more than £500,000.
West Veg Ltd. folded in March, owing £77,839 to NatWest Bank, £143,591 to the taxman, and more than £170,000 to other creditors.
At the time, some employees who were made redundant claimed they were still owed thousands in wages and holiday pay.
A year later, he also dissolved the Wallace and Co restaurant in Putney and sell its parent company Wallace Cafes Ltd, which later went into liquidation.
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Gregg competed on Strictly Come Dancing in 2014, but he says his time on the show was so stressful he had to call a therapist.
He has recovered from the loss and is still raking in big money from his MasterChef gig and other successful businesses, including GreggWallace.Health.
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