Tommy Mallett going through ‘really tough time’ after clash over company finances
TOMMY Mallet has revealed he’s going through “a really tough time” after clashing with his former business partners over company contracts.
The ex-Towie star said all his money is tied up in the company and he’s struggling to get it back after resigning as director.
Self-made Tommy, who grew up on a council estate in Islington and left school with no GCSEs, had previously built up a £6million fortune and was director of Mallet London.
He appeared heartbroken as shared his latest setback in a video on Instagram.
The star said to the camera: “I’m gonna come on and address something cos I’m trying to push the positivity.
“I’ve been going through a really tough time. Legally. With a business that I had a big part in building something I still own … been in court about it.
“So with me resigning as a director because I was in a toxic relationship struggling with my mental wealth. That has now sparked something …
“All my money is in the business, all my kids’ money for the future, my wife’s pregnant. I’m up against it. I’ve been fighting this for a long time now.
He added: “It’s not like I ain’t going to get it back. I’ll get this back faster than you’ve ever seen.
“But when your kid’s growing up and you’ve got to start worrying about payment for things, you’ve got these greedy people trying to take things for free.
“So now people you’re probably going to watch a terrible battle between two people’s egos which don’t need to happen … I can’t give into this one.”
He ended the clip saying: “So update on my situation as a lot of people are asking, I’m fighting to get my money out of something.
“I’ll get it, but one thing they can’t take, with injunctions and legal letters, is my voice. I have a right to speak about my situation.”
The 32-year-old captioned the post: “Sorry I’ve been quiet, I’ve been fighting to get what I’ve put in out of one of my investments.
“It’s been a journey and something in the long run that will be sorted, but in the mean time I won’t just keep quiet.
“I’ll keep pushing and keeping all of you who helped me build it updated… Life gets tough sometimes, but so do we.”
His wife Georgia Kousoulou, who is pregnant with their second baby, replied to the post: “We are proud of you.
“No matter what, you can keep your head held high & know you are a pure hearted person who just wants the best for his family.”
The Sun has contacted Mallet London for comment.
Tommy’s poor upbringing inspired him to launch his first footwear brand Mallet in 2015 – selling shoes known for their metallic heel clip, for around £175 a pair.
By 2020, the business had clocked up £11.8million in sales, was stocked in 150 stores around the world and was worn by A-listers including Drake, Olly Murs, Craig David, and Will.i.am.
In 2021, he even made Forbes’ 30 under 30 list, due to his success, and confessed he prefers to be known for his entrepreneurship than as a reality TV star.
In 2023 he departed the Mallet brand and offloaded all his assets following a “four month battle”.
Writing on Instagram, Tommy said: “It’s probably not over, but as it stands I can work and support my family.
“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.”
He added: “Just call me the monk who’s sold his Ferrari for a bit.”
The star has now stepped out on his own to launch a new trainer brand called CTRNE – labelling itself as the “one and only crystal-infused sneaker brand”.
The trainers – which sell for around £200 – incorporate citrine crystals which the website claims ” dispel negative energy and self-doubt, creating a mindset of optimism and clarity.”
The brand adds that it is “creating footwear that not only elevates style but also empowers the journey towards achieving your dreams.”
It currently boasts over 209,000 followers on Instagram.