TOWIE’s Tommy Mallet says he has ‘sold everything’ after being hit by a huge tax bill – as he ‘starts from scratch’ following the sale of his multi-million pound footwear brand

Tommy Mallet has revealed how he ‘sold everything’ after previously revealing he was hit with a huge tax bill following the sale of his multi-million pound brand.

The former TOWIE star, 31, said he has been going through a ‘s**t time’ but plans to work on getting back everything he has lost in a saucy new Instagram post.

Tommy sold his luxury shoe brand Mallet last year after launching in 2015 and made more than £11.8 million in sales in one year, making him one of the ITV show’s most successful exports.

The entrepreneur’s success skyrocketed and he was named to Forbes’ 30 under 30 list for Europe in 2021 in the retail and e-commerce category.

In stark contrast, however, Tommy admitted he was left with ‘nothing’ in December last year, having quit the shoe business months earlier.

The former TOWIE star, 31, said he’s been going through a ‘s**t time’ but plans to work to get back everything he’s lost in a defiant new Instagram post (pictured with son Brody)

Taking to Instagram this week, Tommy revealed he had gone through a ‘four-month battle and won’, as he insisted he now has ‘a point to prove and give back in abundance everything he has lost’.

He continued, “It’s probably not over yet, but as it stands, I can work and support my family.

“I sold everything I owned to defend myself and start from scratch, but I have some wonderful businesses and I will give anything to get it back so my family can continue to live the life I worked so hard for. .’

‘You can buy followers, but you can’t buy talent. Once they realize this, they will try to ruin your character.”

Tommy admitted that he could not hope for the attack due to his personal problems, writing: ‘Normally we are used to this, but not in the same year when my wife had a miscarriage and I felt weak.

“But as they say, it’s nothing personal, it’s just business, honey.”

Tommy added, “Call me the monk who sold his Ferrari for a while.”

He spoke about his financial problems during an appearance on the Getting There podcast, where he insisted he had ‘no money’.

Taking to Instagram this week, Tommy revealed he had gone through a ‘four month battle and won’ as he insisted he now has ‘a point to prove’

He continued, “It’s probably not over yet, but as it stands, I can work and support my family.”

Tommy admitted that he could not hope for the attack due to his personal problems, writing: ‘Normally we are used to this, but not in the same year when my wife had a miscarriage and I felt weak.

He said: ‘Financially I have nothing at the moment. I actually made an acquisition in January, it was quite a large acquisition and it was to buy back some shares for Mallet.

“I put money into Mallet to get my shares back up, thinking that I would basically start building the next year, just full steam ahead.”

He also said about his wife Georgia’s tragic miscarriage: ‘And after I saw you, of course I lost the baby. That changed my whole world and I thought: something has to change.

‘I actually started all over again. I have the biggest tax bill ever.”

Tommy previously told MailOnline how he managed to make his multi-million pound fortune.

He shared how he went from “not being able to read and write” and being “tortured” by his mind due to undiagnosed ADHD to landing on the Forbes 30 Under 30 rich list.

Tommy left school without GCSEs after struggling with dyslexia and worked as a carpenter before becoming a reality TV star on TOWIE.

In 2015, Tommy was then able to channel his passion for sneakers into his own shoe line and in 2020 the company achieved a turnover of £11.8 million, with Mallet London shoes and clothing in more than 150 stores around the world.

Tommy, who shares son Brody with Georgia, married his co-star in December last year after popping the question in 2022.

Tommy, who shares son Brody with Georgia, married his co-star in December last year after popping the question in 2022.