The late EastEnders actor Mike Reid had debts of £900,000 when he died, it has been reported.
According to The Sun, the star’s finances were scrutinised by accountants and estimated that he was worth £881,381 at the time of his death.
All of his assets were seized by creditors, leaving nothing after his debts were paid, the newspaper claims.
A legal insider reportedly explained: “When someone dies their assets are added up before their debts are deducted, with the taxman and the VAT man first in the queue, to come up with a final ‘net figure’.”
A friend of the actor, who played Frank Butcher in the BBC1 soap, apparently told the newspaper: “Mike appears to have died potless, which is incredible.
“He never seemed to be short of money but I don’t know what sort of debts he had. It seems his financial affair took a lot of sorting out.”
But friends reportedly say that his wife, Shirley, is still living in the villa they shared in Spain with ‘no financial worries’.
Ironically, on screen there are rumours flying around Albert Square about Frank Butcher’s will.
Frank’s legacy will be revealed to his family this Friday as widow Peggy Mitchell (Barbara Windsor) ex-wife Pat Butcher (Pam St Clement) daughter Diane (Sophie Lawrence) and son Ricky (Sid Owen) – finally hear the details of his will.
Mike died after suffering a heart attack in July.