Joey Essex’s management company forced into liquidation with £1.28m shortfall

Joey Essex’s personal management company, Joey Essex Management Ltd, has been placed into liquidation with total liabilities of about £1.28 million, liquidators said on Thursday.

A statement of affairs compiled by the appointed liquidators shows the firm owes creditors £497,246, with the largest single element a £402,302 corporation tax bill. That creditor total also includes £30,449 in VAT, £9,552 in PAYE, £15,000 to trade and expense creditors and a £39,942 Covid bounce back loan. Separately, the company’s director’s loan account is overdrawn by roughly £780,000, bringing the combined shortfall to £1,277,246. Liquidators said it was unclear whether any of the director’s loan balance will be recovered.

The collapse comes despite the television personality’s continued earnings from appearances on major reality programmes, including I’m A Celebrity, Dancing on Ice, Celebrity MasterChef and SAS: Who Dares. Company filings reveal a series of compliance problems linked to the insolvency.

Last August, the company attempted a voluntary dissolution and filed a signed statement of affairs declaring it solvent and promising to repay creditors, including any interest, within 12 months. Insolvency practitioners said submitting a false statement of solvency can be a criminal offence under UK law and may attract fines or, in serious cases, imprisonment. The liquidators have said the earlier declaration is under scrutiny and have indicated possible referral to the authorities.

Regulatory records show the company had not filed annual accounts for four years and was at risk of being struck off Companies House until a batch of four years’ worth of accounts was filed on 10 October last year. Failure to file statutory accounts on time is itself an offence, typically judged against a nine-month deadline following the end of a financial year.

Joey Essex Management Ltd traded as the vehicle for the former The Only Way Is Essex star’s media and appearance income. The company’s balance sheet and creditor schedule, lodged with the liquidators, list the Covid bounce back loan and tax arrears among the pressing liabilities. The director’s loan account — monies taken out of the company that were not formally repaid — represents the largest single unsecured claim to the estate and is likely to be examined closely by the liquidators.

A spokesperson for the liquidators declined to comment beyond the figures published in the statement of affairs. Media representatives for Essex were contacted for comment.

The insolvency follows a high-profile period for the TV personality, who in late August made his boxing debut at a Misfits promotion. The bout, which he narrowly won on a split decision, attracted wide social media attention but does not appear in the published accounts as a direct cause of the company’s collapse.

The case highlights recurring enforcement and governance issues that can affect companies in the media and entertainment sector, where irregular income streams and seasonal earnings can complicate tax planning and cashflow management. HM Revenue & Customs is among the creditors listed; when tax liabilities mount without remedial arrangements, HMRC can pursue enforcement action that accelerates insolvency.

The liquidators will now assess the company’s assets and creditor claims, determine whether any funds can be recovered from the director’s loan account, and consider potential referrals to Companies House or law enforcement if evidence of misconduct emerges. Creditors will be notified of the progress of the liquidation and any dividend prospects once the liquidator completes the initial investigations.