Joey Essex is facing significant financial struggles as his performing arts company has accumulated debts totaling £1.3 million. The Love Island personality, who has ventured into boxing, is currently grappling with an outstanding loan of £780,000 borrowed from his own company, Joey Essex Management Ltd.
Recent documents obtained by the Mirror indicate that liquidators are uncertain about Joey’s ability to repay the overdrawn director’s loan. Despite signing a Declaration of Solvency document in August last year, expressing confidence in the company’s ability to settle debts within 12 months, the situation remains uncertain.
In addition to the loan, Essex owes a substantial sum of £497,246, including £442,303 to HMRC for unpaid VAT, PAYE, corporation tax, and court expenses. Last year, HMRC initiated legal action against his firm by petitioning for its winding up due to the outstanding debts.
Further exacerbating the financial woes, the TV personality also owes £39,942 to Coutts bank and £15,000 to Companies House. The total debt amount surpasses initial estimates, which previously indicated a tax debt of £300,000.
As the sole director and shareholder of the company established in 2011, Joey Essex has earned significant income from various television shows, such as Educating Joey Essex, Celebs Go Dating, Dancing on Ice, and Love Island. Despite attempts to reach out for comment, Joey has not responded to requests for a statement.
In 2023, the company held assets worth £890,000, with £780,000 in cash reserves. Joey also owns two other dormant companies—JDE Property Limited valued at £100 and Fusey Productions Limited.
To address financial difficulties, Joey recently transitioned to boxing, securing a reported £500,000 for his debut fight. However, his victory may be contested as his opponent plans to appeal the match outcome, raising uncertainties about the future of their boxing rivalry.
Following his successful debut match against Numeiro in Manchester, where he clinched a hard-fought win after enduring standing counts in the fourth and final rounds, discussions of a rematch have emerged. Numeiro, whose real name is Joao Barbosa, emphasizes the need for a fair resolution to their initial bout and expresses a preference for a rematch outside the UK.
