Adam Thomas’s eye-watering six figure restaurant debt revealed as Waterloo Road star stands to lose £55k | The Sun
ADAM Thomas’s restaurant business owes the tax office £103,263, The Sun can reveal.
New figures show the Waterloo Road and former Emmerdale star's firm The Spinn has gone bust with total debts of over £300,000.
The business has an outstanding loan to Santander of £40,996 and Adam, 34, stands to lose £55,654 of his own cash he ploughed into the restaurant business.
Partner Scott Graham is also owed £41,333 and they borrowed a further £57,919 from their hot sauce firm Oh My Glaze.
The actor, who is in talks to join Strictly, resigned from the company last year.
Figures published today at Companies House lay bare total debts of £310,865 with accountants liquidating the firm revealing that just £6,000 in cash has been realised from a company account.
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His Majesty’s Revenue and Customs will take priority as a preferential creditor for unpaid tax and National Insurance contributions.
Adam set up a firm called Gatley Bar and Grill Ltd to handle cash from The Spinn, based near Stockport, Greater Manchester.
This week it was formally put into administration.
But as his food firms failed, Adam did manage to move into a monster new pad with his wife and two kids.
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He and Caroline last year took the keys of a Cheshire mansion after admitting it had been a race against time to secure a mortgage on the pad.
And they also set up an Instagram page dedicated to the place as they renovate and redecorate their new home.
But at the same time, Adam was arranging the move, his eatery was going down the pan.
Following reports the once popular venue had been boarded up, the actor confirmed the news of the eatery’s closure, last year by thanking all his customers.
He said: “Unfortunately we have decided to close The Spinn. We did what we had to do with The Spinn and we learnt so much building our first venture and more importantly we had an absolute blast.
“But after 3 years we felt the time was right for us to move on.”
In the summer of last year, Adam and his wife proudly unveiled their new house.
Adam penned an emotional message to fans, thanking them for their support during their journey pf buying a house.
He said: “This year has been the craziest year of my life and am very aware of how lucky I am, and I know my lucks going to run out soon… but until it does, I'm going to enjoy every minute of it.”
His celebrity pals rushed to the comments section to congratulate him on the new home, including former Emmerdale stars.
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Kelvin Fletcher wrote: "Dare to dream. Everything starts with a thought!" while Brook Vincent wrote: "Proud! Love you all!"
Adam, who finished third in 2016's I'm A Celebrity, will be hoping to be a hit on the dancefloor and make a few quid once Strictly gets in to full swing.
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