ANT Middleton has been forced to sell his family home after business debts worth £1.2 million left him facing bankruptcy.
The former SAS star, 44, purchased the sprawling five bed property in Essex back in 2019 for £1.16 million.
Ant Middleton and wife Emilie are selling their family home[/caption]
Ant quit the UK last year after his axe from SAS[/caption]
Ant often showed off the rural retreat on social media as he posted snaps of his five children, who he shares with wife Emilie.
It is described as an ‘exceptional residence’ and an ‘exquisite home’ – the floor plans detailing the property layout with Ant’s standalone gym.
The particulars also report that the couple had secured planning permission for a rear extension.
It is now on the marked for £1.5m and the forced sale of his ‘matrimonial’ home has been reported in a liquidation update for his company Sway and Starting.
Filed at Companies House, a Progress Report, states: “During the period a settlement was entered into with the director whereby he would pay £300,000 in full and final settlement of his overdrawn Directors Loan Account.
“The director failed to adhere to the payment plan and only one instalment was received.
“A statutory demand was served on the Director with a view to petitioning for his bankruptcy. He subsequently agreed to sell his matrimonial home and provide the remainer of the amount owed under the settlement agreement.”
Sway and Starting went into liquidation in December 2022, the progress report filed by liquidators Begbies Traynor the third insolvency document to be drawn up.
A Statement of Affairs signed off by Middleton at liquidation reported monies owed by directors to the firm at £2.7 million.
Also reported were £1.2 million in tax debts – comprising £342,792 in VAT, £907,191 in corporation tax and £6,370 in employee taxes.
As well as reporting the sale of the family home, the progress report also reveals an ‘asset trace’ was undertaken into ‘the assets of the director.’
The Middletons set up Sway and Starting in 2014, and it traded as Middleton Global until September 2022.
The pair owned through Middleton Global Group, and it traded modestly for its first four years. Its net worth reported at £1 in 2015, £91 in 2016, £114 in 2017 and £1,644 in 2018.
Its money making years coming in 2020 and 2021, with a £821,629 profit reported for 2020, as well as dividend pay at £1,089,980. With the firm holding £807,887 in its last accounts.
The upturn in profits was accompanied by an increase in the firm’s tax debt and significant loans from the business to Ant and his wife.
Sway and Starting owing £807,887 in tax as at the last accounts, the couple borrowing almost £1.7 million during the trading year and owing £1.5 million as at the date of the accounts.
Ant left the UK to move to Dubai last year he was axed from SAS: Who Dares Wins in 2021, heading off to Australia to do a foreign format of the programme.
Ant’s rep has been contacted for comment.
