TOMMY Mallet has told fans he’s “sold all my assets” after previously confessing to being hit by a huge tax bill.
The star took to Instagram to update followers after he stepped down from his multi-million pound luxury footwear brand Mallet.
The reality TV star launched his successful business, Mallet London, in 2015.
He made millions in sales of trainers he designed and became one of the show’s most successful stars of all time thanks to his obsession with footwear.
Now the former Towie star, who is married to Georgia Kousoulou, has told fans that – following a “four month battle” – he’s offloaded all of his assets after departing the brand in October.
Writing on Instagram, Tommy said: “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.”
Tommy addressed this during an appearance on Brogan Garrit-Smith’s Getting There Podcast and also insisted he had “no money”.
The Baby Steps reality TV star, who shares son Brody, two, with 32-year-old Georgia spoke about his wife’s heartbreaking miscarriage at the same time.
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.
“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 sell his £200k Ferrari.
He said: “So when the fuel prices are going up and me putting petrol in the car bruv, it makes no difference to me money-wise.
“If you’re driving a £200K car, doesn’t matter does it?
“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.”
The star has stepped out on his own to launch a new sneaker brand called CTRNE.
It currently boasts 200 thousand followers on Instagram.
