Strictly's Adam Thomas' failed restaurant 'under investigation'

by · Mail Online

Adam Thomas' failed restaurant The Spinn is reportedly under investigation after it went bust in 2022 after three-years of trading and racking up debts of nearly £300K.

According to The Sun, while the former Strictly contestant, 36, earns £200K a year from acting work, including his role as Donte Charles on Waterloo Road, the creditors are unlikely to see a penny of what their owed. 

Adam opened the eatery in Gatley, Manchester with friend Scott Graham in 2019, followed by a bar and burger sauce company. 

But the business suffered a setback due to the Covid lockdowns and announced the closure of the restaurant, which employed a team of 12.

Despite the former Emmerdale star resigning as a director in 2021, publication reports that he will still form part of the investigation as the as the circumstances surrounding the business' collapse are probed.

Adam Thomas ' failed restaurant The Spinn, 36, is reportedly under investigation after it went bust in 2022 after three-years of trading and racking up debts of nearly £300K
Adam opened the eatery (pictured) in Gatley, Manchester with friend Scott Graham in 2019, followed by a bar and burger sauce company
According to The Sun that while the former Strictly contestant, 36, earns £200K a year from acting work, including his role as Donte Charles on Waterloo Road (pictured) the creditors are unlikely to see a penny of what their owed

A report into Adam's trading firm Gatley Bar & Grill revealed: 'We have corresponded with the director, ex director and creditors, carried out our initial SIP2 investigations and submitted our directors' conduct report to the Department for Business and Trade within three months of our appointment.

'We have also carried out work which is statutory in its nature and whilst this work might not bring any financial benefit to creditors, it is required on every case.

'Some of the work Liquidators are required to undertake is to comply with legislation such as the Company Directors' Disqualification Act 1986 (CDDA 1986) and Statement of Insolvency Practce 2 - Investigations by Office Holders in Administrations and Insolvent Liquidations and may not necessarily bring any financial benefit to creditors, unless these investigations reveal potential asset recoveries that the Liquidators can pursue for the benefit of creditors.

'We have submitted a report on the conduct of the director and former director of the Company to the Department for Business and Trade under the ODDA 1986. As this is a confidential report, we are unable to disclose the contents

'Shortly after appointment, we made an initial assessment of whether there could be any matters that might lead to recoveries for the estate and what further investigations may be appropriate.

'We have submitted a report on the conduct of the director and former director of the Company to the Department for Business and Trade under the ODDA 1986. As this is a confidential report, we are unable to disclose the contents

MailOnline have contacted Adam's reps for comment. 

The business firm Gatley Bar and Grill Ltd was formally put into administration last July, with debts of £293,996, including £71,423 owed to the tax man, The Sun reported at the time.

Despite the former Emmerdale star resigning as a director in 2021, publication reports that he will still form part of the investigation as the as the circumstances surrounding the business' collapse are probed (pictured with wife Caroline at the restaurant) 
The business firm Gatley Bar and Grill Ltd was formally put into administration last July, with debts of £293,996, including £71,423 owed to the tax man, The Sun reported at the time (Adam pictured on 2023's Strictly with partner Luba Mushtuk)  
Adam's brother Ryan (left) bounced back after he was declared bankrupt in 2013, owing £40,000 to Inland Revenue. He went on to star on I'm A Celebrity and Big Brother and Dancing On Ice 

Announcing the close he said: 'Unfortunately we have decided to close The Spinn. We did what we had to do with The Spinn and we learnt so much building our first venture and more importantly we had an absolute blast.

'But after 3 years we felt the time was right for us to move on. We are now focusing on the next chapter of The Spinn … The Spinn off [bar] and Oh My Glaze [burger sauce company].

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Adam Thomas' restaurant The Spinn goes bust with debts of nearly £300,000

He added: 'Thanks again to everyone who has supported us along the way and continues to support us and to all our staff who we will continue to take on this journey with us.'

Speaking about the venture back in 2019 Adam told I Love Manchester: 'We've [himself and pal Scott] been wanting to do this for years, even when we were at school we talked about opening our own place'.

'We found a location that we fell in love with, and so when we were on a bit of a night out and ended up in a casino, we said we'd do a spin on the roulette and if we win we'll go for it. We didn't win much money – it was more the significance of the bet to finally do this and it gave us that last push. That's why we've named the restaurant The Spinn.'

Adam's brother Ryan bounced back after he was declared bankrupt in 2013 and owed £40,000 to the Inland Revenue.

At the time, the actor was earning an estimated £90,000-a-year for his role as builder Jason Grimshaw in Coronation Street.

After his Celebrity Big Brother appearance in 2019, Ryan received a career boost and was set to become a millionaire after a series of lucrative offers, with further recognition after he went on to win the latest series of Dancing on Ice.