21 Bankrupt Celebrities – They Had It All And Spent Even More
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7. Shane Filan
Talk about bad timing: the Westlife singer was declared bankrupt immediately following a hugely successful farewell tour. Apparently he was a victim of the property crash after making some less than sound investments.
The problems started for Shane in 2004, when he decided to buy several properties in his hometown of Sligo, Ireland. The market was actually quite favorable at the time and he soon started getting some serious revenue from the houses he rented out, so he decided to make everything bigger and purchased more houses. He then started building homes and continued to do so until the Irish property crash in 2009. It was all downhill from there for Filan. Westlife split in 2011 which meant no more tour and concert money. He started selling literally everything he owned as the banks demanded their money back but it wasn’t enough. Several months later, he was declared bankrupt.
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