Recent reports have it that ex-Newcastle striker, Craig Bellamy is currently undergoing some financial downturns.

The Sun newspaper has authoritatively revealed that the Premier League star is now swimming in debts after the latest accounts of his four companies posted some massive losses.

CDB Developments, CD Bellamy Ltd, Digger 39 and Cardiff Bay restaurant Pier 64 are the four companies owned by the former striker who once played for Liverpool.

All four companies are in debts that are said to be no less than £4.3 million. The reason for this is due to the recent project Bellamy is carrying on which sees him begin work on five new luxury apartments located in his Cardiff home city.

CDB Developments, his property development company which is heavily linked to the ongoing project, holds the highest debt profile summing up to £2.1million.

Fears are high that before the completion of the apartments, the company would go bust, especially with the latest released financial reports.

The accounts state “significant doubt upon the company’s ability to continue as a going concern” exists.
Another company also linked to the apartments, CD Bellamy Ltd has posited a debt of £320,000.

The Sun, earlier in the course of the year, revealed that Digger 39 Ltd, yet another of his development firms, had gone bust with debts amounting to about £1.8million.

It thus led to the firm suffering serious financial problems. As a result, Travis Perkins, a building firm dragged the company to court due to unpaid bills. A winding-up order was the judgment given by a High Court in respect to the firm.

The last company, Cardiff Bay restaurant Pier 64 is also said to be in debts according to latest accounts. The restaurant is said to hold a debt of £130,000.