Billionaire bungalow boss is bankrupt months after boasting about his bursting bank account
A BILLIONAIRE bungalow boss is bankrupt months after boasting about his bursting bank account.
Entrepreneur Bob Bull, at No88 in The Sunday Times Rich List, owes £725million.
Six months ago he claimed to be worth £1.9billion as he showed The Sun around his £10million mansion with bowling alley and £4million collection of 12 supercars.
This week lawyers in a class action bankruptcy petition against him said: “Mr Bull’s claims to be very wealthy were wrong.”
Bull, 46, who lives with his blonde Norwegian model fiancée Sara Nilsen, 30, near Southampton, made his fortune turning caravan parks into luxury bungalow villages.
The bankruptcy case follows the collapse of holding company RoyaleLife.
According to court papers the £725million debt is made up of 22 loan agreements for which Bull made personal guarantees to a number of lenders.
He hopes to enter an individual voluntary arrangement to pay off debts at just 0.25 per cent.
His lawyer said: “It is not a great return to the creditors, but it is a return.”
Bull previously went bankrupt in 2016 owing £3.5million but bounced back. His spokesman was contacted for a comment.