22 February 2023 , 15:00
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Pete Wicks has reportedly shut down his PW Promotions business after leaving The Only Way Is Essex.
The reality star, 35, confirmed in January that he will be stepping back from being a regular cast member on the ITVBe show.
After eight years on the popular series, he decided to quit and focus on his other work commitments.
And now, several weeks after confirming the news, it was reported that he shut down his business which has more than £100,000 in debt.
Pete also owns Unkempt. His previous businesses include Hermano Clothing and Pirate Pete's Tattoo - which both closed down.
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A statement of affairs filed at Companies House showed VAT owed at £7,477, corporation tax owed at £66,702 and £26,500 in funds owed to Lloyds Bank.
Pete is shutting down his company, PW Promotions (Getty Images)
It was reported that there is £100,000 worth of debt at the firm (p_wicks01/Instagram)The debts owed total £100,681, as reported by The Sun.
Mirror have contacted his representatives for comment.
The liquidation of his company comes after he quit the reality show after eight years on it.
He joined the ITVBe show in its fifteenth series, which aired in 2015.
He's been part of its main cast since and is said to have been in more than 180 episodes.
At the end of January, he confirmed the news and said he will appear "every now and then".
The TV personality posted a lengthy statement on Instagram, in which he thanked fans for supporting him during his time on the ITV reality show.
Pete wrote on his Instagram Story earlier: "Just wanted to let you all know that the time has come for me to take a step back from TOWIE as a regular cast member.
It comes after Pete quick TOWIE after almost a decade (ITV)"The show has been a massive part of my life for such a long time, and has opened so many doors for me in my career".
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He continued in his statement: "As my diary continues to fill up with other work commitments, it only makes sense for me to step back from filming TOWIE full-time."
Pete thanked those behind the show, writing: "I want to say thank you to everyone at Lime [Pictures] and ITV who have worked with me on the show over the past eight years."
"Through the ups and downs, and everything in between, one thing remains the same ... TOWIE and the people connected to the show are all family," he added.
He further commented about the decision: "As much as I am excited to move into a new chapter in my life, I will sincerely miss filming every day with the cast and crew!"