Burt Reynolds (Bankrupt in 1996): If you think tabloid news about Tom Cruise and Katie Holmes breaking up is a recent phenomenon, just harken back to the high profile divorce of Burt and Loni Anderson. The messy proceedings saddled him with $10 million in debt even as an extravagant lifestyle and a chain of failed Florida restaurants bled him dry. The money troubles haven’t stopped, however, as Merrill Lynch Credit recently has threatened to foreclosure on his four-acre waterfront state in Florida to collect a $1.2 million debt. And until recently, he owed California $225,000 in back taxes over about 15 years.
9 Ugliest Celebrity Bankruptcies in History
When it comes to cash-pressed celebs, these are the worst
Article printed from InvestorPlace Media, http://investorplace.com/2012/07/10-ugliest-celebrity-bankruptcies-in-history/.
©2017 InvestorPlace Media, LLC