Bankruptcy (2009)
On 10 July 2009 both the Nottingham Evening Post and the Derby Evening Telegraph reported that Chek was £30m in debt. He applied for an Individual Voluntary Arrangement, seeking to renegotiate his debt and promising that he would repay all his creditors in full. However on 2 September 2009, he was declared bankrupt in a Manchester court, following a petition by one of his unpaid suppliers. This was not his first bankruptcy; he stated in 2008 that "I'm really known now for buying companies in receivership. I went bankrupt years ago. I've gone through the treadmill. I know what happened there. As long as you learn from your mistakes you move forward."
| Business positions | ||
|---|---|---|
| Preceded by Paul Millership |
Chairman of Ilkeston Town F. C. 2008–2009 |
Succeeded by Gary Hodder |
Read more about this topic: Chek Whyte
Famous quotes containing the word bankruptcy:
“A woman’s whole life is a history of the affections. The heart is her world: it is there her ambition strives for empire; it is there her avarice seeks for hidden treasures. She sends forth her sympathies on adventure; she embarks her whole soul on the traffic of affection; and if shipwrecked, her case is hopeless—for it is a bankruptcy of the heart.”
—Washington Irving (1783–1859)