TOMMY Mallet has opened up on his bitter feud with his former business partner after “selling all his assets”.
The former Towie star, who fronted two fashion brands, recently insisted he’s “not skint” after cutting ties with his business partner.
Tommy said he “stepped away from Mallet after a toxic relationship” had formed ahead of the launch of his new shoe company CTRNE.
Tommy took to Instagram and told followers: “After announcing the launch of CTRNE – I got a legal letter which basically was trying to force me to sign an undertaking, to tell me that I wouldn’t be speaking or releasing a brand until the end of this year.
“Basically trying to stop the launch and to stop me from trading.
“I personally feel like I wasn’t doing anything wrong, it was me and my family doing something for us.
“I stepped away from Mallet after a toxic relationship was going on there.
“I felt I was more within my right to carry on and carry on working but my partner there wasn’t happy about it.
“I refused to sign, basically I was given a letter to say I was being taken to court.”
Tommy said he was “pushed into a corner and threatened” which resulted in him going to court.
He continued: “This court injunction was basically to stop me using the word CTRNE or speaking about anything to do with the business, up until the end of October.
“I got pushed into a corner and threatened and told to do something and I said no, because I feel this is the right thing and I’m well in my right to do so.
“And I’ve proved myself in court because I’m still talking about it.
“So the injunction to stop Tommy from talking about CTRNE and working from CTRNE didn’t work, so thank you very much.
“This is no tit for tat, everyone involved I full on forgive everyone involved, I don’t have any bad feelings towards anybody.
“I just want to carry on with my life now and basically build this company and live a good life.
“I still own Mallet, there are so bits and pieces that need sorting out but apart from that Tommy still talks about CTRNE, the message still gets spread, thanks for the support.
“I’m going to leave this here now and talk positively only now.”
Tommy offered a fresh insight into his financial affairs earlier this week.
He also hit back after sparking claims he had cash flow problems.
The told fans in a post on Instagram: “I’ve sold all my assets to defend myself and starting from scratch.
“But I’ve got some wonderful companies and I will give it my all to get it back so my family can continue living the life I worked so hard to give them.
“The amount of people who turned on me and backed the wrong horse, I’m not upset with you I’m just disappointed.”
Following the news he’d sold all his assets, Tommy denied he was out of pocket.
He then insisted he still had financial assets, still owned Mallet, and he plugged his younger fashion brand, CTRNE.
In a video last night he attempted to clear up the confusion.
Tommy told fans: “I still own Mallet.”
He said: “I’ve been earning money for years now, since 2019.
“I’ve been paying millions of pounds worth of tax. It’s been clear that I’ve done so.
“To pay tax you’ve got to earn the money.”
Tommy added: “To be honest with you, I would like people to think I’ve gone skint. It might stop people driving me mad for 10 mins.
“I’ve been skint my whole life, apart from (the last few) years.”
The reality star added that he’s in a “very good place” with his businesses.
Tommy said: “In terms of me and my companies, I’m in a very good place, I’ve got an amazing name in business.
“I’ve been doing very well for a number of years.”
Back in November Tommy confirmed to fans that he “stood down” from his role at Mallet London on 31 October 2023.”
