Disgraced TV presenter Stuart Hall is reportedly facing financial ruin after pleading guilty to indecent assault earlier this week.

The former It’s A Knockout host admitted assaults on 13 girls – the youngest aged just nine – earlier this week after having previously denied any wrongdoing.

And according to the Mirror his admission of guilt may also have a profound impact on his finances.

Hall, 83, has invested in a number of failing companies, including a loss-making estate agency owned by friend Owen Oyston – who himself was jailed for rape in 1996.

He also had interests in several other publishing firms which lost money – which reportedly forced him to continue working in spite of his age.

However his ruined reputation may now mean he never works again – while some of his victims are also reportedly preparing to sue.

“His investments haven’t worked out and he’ll never work again now his reputation is completely ruined,” a source told the paper.

“It’s a disaster for his wife Hazel and it might get even worse if he is sent to prison and his victims start to sue for damages. It might mean selling the house.”

Lawyer Alan Collins from legal firm Pannone said he had already been instructed by six of Hall’s victims to pursue proceedings against him.

“His admission of guilt means we will be able to pursue these cases expeditiously on behalf of our clients, Collins said. “It is particularly brave of his victims to come forward and face those memories.”

Hall has been granted bail until his sentencing on June 17. He has been told that all sentencing options remain open including immediate custody.