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.
5
5
5
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.
His company employed 2,000 workers and was said to be worth £4billion.
READ MORE ON BUNGALOW BOB
The couple’s mansion boasts its own three-lane bowling alley and six double garages to house his supercars.
Bull owns five Rollers, two Lamborghinis — an Aventador and a Urus — plus a 211-mph Ferrari GTS.
He told The Sun: “They’re all special. You can’t just go to a garage and buy them.
“They have either body kits, unusual colours or they’ve had the engines expanded.
“We’ve also got the fastest Porsche 911 turbo in the world.”
In the corner of his home’s three-acre garden — protected by two security men and a pair of Dobermann guard dogs — is a caravan, to remind Bob where it all began.
The couple have their own butler and also own a £1million house in Sara’s home town in Norway.
They met at a bar in Mayfair in 2019 after Bob had been to see his bankers but they were both in relationships.
Sara said: “When I held Bob’s hand, I felt he craved touch.
“I thought ‘I’m going to make you the best you can be. You’re going to look and feel better about yourself.
“We’re going to do your teeth, do your hair and make you lose weight’. And he has.
“I’m so proud of him. He worries a lot about the business.
“I’ve said to him ‘What’s the worst that can happen? You lose everything. You’ll still have me, we’ll start again.”
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.
Back in September it was reported that Bull was fighting a legal battle over more than £32million of unpaid debt.
Tony Barney, 59, claimed that Bull owed two of his caravan companies more than £32million.
5
5