It appears that the business owned by Joey Essex has collapsed with a debt of around £1.2 million, which might lead to potential legal charges against him.
Due to an inability to meet its significant financial obligations, particularly with the tax authorities, the company owned by the ex-TOWIE star, Joey Essex Management Limited, has been compelled to undergo liquidation.
This fact holds true even though Joey raked in significant sums by featuring on hit reality shows such as I’m A Celebrity, Dancing on Ice, Celebrity Masterchef, and SAS: Who Dares Wins.
The business owes the following amounts: £30,449 in Value Added Tax (VAT), £9,552 in Pay-As-You-Earn (PAYE) tax, a significant £402,302 for corporation tax, £15,000 to trade and expense suppliers, and a £39,942 Covid-19 Bounce Back Loan.
The total amount owed to creditors currently amounts to £497,246. However, Joey’s director’s account shows a deficit of £780,000, and the liquidators are unsure if any of this debt can be recouped.
Joey owes creditors a sum of £497,246 in total. Additionally, his director’s account indicates a debt of £780,000, but liquidators are doubtful if any of this amount will be repaid.
The current debt now stands at £1,277,246. However, Joey might face issues with Companies House due to the submission of false information.
The total amount owed is now £1,277,246. But Joey may have problems with Companies House for providing misleading details.
Last August, he attempted to shut down the company on a voluntary basis, asserting in a “financial statement” that it was financially stable and capable of repaying its outstanding obligations.
In his written commitment, he assured to repay the loan along with accrued interest within a year. Lying about a company’s financial health, suggesting it’s solvent when it isn’t, is considered a criminal act that can result in severe penalties such as substantial fines and even jail time in more serious instances.
Daily Mail has contacted a representative for Joey for comment.
In June last year, it came to light that the company had neglected to submit account reports for a period of four consecutive years. This oversight put the company at risk of being officially dissolved.
Failing to submit accounts within nine months following the conclusion of a company’s fiscal year is similarly considered an offense.
Four years worth of accounts were then filed all at the same time on 10 October last year.
Joey had his first professional boxing match at the Misfits event on August 30, appearing bruised following a close victory.
As a devoted fan, I can’t help but share that the buzz surrounding his boxing match has skyrocketed, unfortunately, due to its chaotic and unconventional nature. Despite the four intense rounds against Numeiro, the reality TV star managed to come out on top, albeit with quite an eventful encounter.
The influencer, guided by his uncle Tony Sims, seemed poised for an effortless evening following a strong start in Manchester.
However, by the fourth and last round, he was stumbling around the ring, struggling to keep his arms raised as his tired adversary advanced aggressively.
At some point, the referee had begun counting Joey out, but he managed to hold on until he heard the final bell ring.
In this contest, two judges declared the reality TV personality as the winner, whereas the third judge called it a tie. As a result, he won by a close split decision.
Or:
The fight was decided in his favor by two judges, while the third one said it was even. This narrowly gave him a split decision victory.
Or:
Two of the judges ruled in his favor, but the third saw it as a tie. Consequently, he ended up winning by a tight margin with a split decision.
In an emotional moment that resonated within the arena, I found myself crumpling to the floor, overwhelmed with tears as my name was called out. However, it seemed that not everyone sharing this experience from the comfort of their homes fully appreciated the magnitude of the occasion.
The video showing the duo exchanging energetic blows went viral on social media platforms, where boxing enthusiasts found it a mix of amusing and distressing spectacle to observe.
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2025-09-12 00:33