Ant and Dec lose millions after luxury villa resort goes bust

28 April 2021

Ant and Dec are set to lose millions after villa resort goes bust.

Ant and Dec

The popular television duo, as well as Phillip Schofield, will miss out on the millions they invested into buying homes in Portugal’s Algarve after the development firm Birchview went bust.

Birchview – who was building the villa resort in Quinta do Lago – sold the lavish complex to Brazilian financial firm SRESPX after going bust, and this week a Portuguese court refused an appeal to block the sale, meaning the TV trio are set to lose the money they paid for their properties.

Ant and Dec, both 45, are said to have put down £3.1 million each into neighbouring properties, whilst ‘This Morning’ host Phillip, 59, will lose the £2 million he paid for his own lavish pad.

Judge Marta Rei said: “There is no basis to argue the nullity of the sale process.”

Lawyers for creditors, including the Portuguese Treasury and bank Caixa Geral de Depositos — owed £250million — may now appeal to Lisbon’s top court.

A source close to the case told The Sun newspaper: “As things stand at the moment the investors who made down payments on holiday homes are still empty-handed.

“The courts have decided there was nothing untoward about the sale and that means Ant and Dec and Philip Schofield remain out of pocket.

“It’s a new reverse in what has been an exhausting legal battle.”

However, the £3 million blow for both Ant and Dec is unlikely to make a dent in their earnings, as last year they confirmed they had signed a huge £40 million three-year deal with ITV to continue hosting some of the broadcaster’s biggest shows, including ‘I’m A Celebrity… Get Me Out of Here!’, ‘Britain’s Got Talent’, and ‘Ant and Dec’s Saturday Night Takeaway’.

Ant said just before the deal was signed: “You know we love working with ITV, they have been great supporters of us, so it will happen.

“We can’t wait for ‘Takeaway’ to come back, we have really missed making it. We are already doing stuff for it at the moment so with that and ‘Britain’s Got Talent’ we are very busy.