www.dailymail.co.uk/tvshowbiz/article-12...upt-second-time.html

Sad to see dj and broadcaster Mike Read bankrupt and having to sell his beloved record collection. I grew up watching him on Saturday Superstore in the 80's and he always seemed such a nice bloke. Although his appearances at tory party conferences didn't endear him to me.

He must have made millions in his lifetime and I don't why people that are rich have to make such risky investments like his failed west end show. Why do they they need to take risks to make even more money, it's just greed.

I don't think it was greed. In my opinion it was ego combined with limited talent, a very bad combination when you have access to some money.

Maybe putting on a west end show was a lifetime dream, and once he had the money he just had to give it a go. That's not greed. As for the rest of his money, I have no idea where that went. I always enjoyed his radio and TV shows. He was very pleasant in both.

I heard about his bankruptcy about a month ago and was quite surprised. I hope he manages to bounce back.

could never stand him and still can't.

Not a scrap of talent in his arrogant and opinionated mouth

I wonder how many of those thousands of rare promo records he actually paid for in the first place ?

I shouldn't think he had that much money anyway. Last time I saw him on tv was I'm a Celebrity.... and the time before that was Saturday Superstore in the early 80's. Oh, and anyone remember 'Pop Quiz'?

Very good DJ and presenter. Only met him once but cant say I liked him alot - though I still respect his work. It is a real shame for anyone who goes bankrupt. Their life's work being auctioned off must be a very sad thing.

Finally - why not invest in a show ? why shouldn't people have dreams ? we all get only one life. Everyone should try and write a West End show or a play or a novel or a book - if they want to. Some will succeed but the majority will fail commercially - but it does not detract from the achievement. If "Making money" is the only barometer of success then our society is screwed in any case.

I wonder if Mike Read is now happier ? perhaps he has less "baggage" and has a new outlook on life - I hope so because being positive through all problems and learning from them is the only way to live in my view.

Good luck to Mike Read and hope he bounces back with loads of things that he is happy to do. I do believe that he has done alot of work for Charity down the years as well...........

I always thought the whole ban Frankie Goes To Hollywood business was rather silly (except that "Relax" sold 2 million copies as a result!) and I certainly don't agree with his politics but it's always a shame to see anyone go bankrupt, especially when it means letting go of what essentially sounded like a life's work.

But I agree with what BR says about his now having less "baggage." In the end it's only material goods, it's only accumulated stuff. If things ever went pear-shaped with me then fine, I'd welcome the bailiffs in; go on, take all these piles of records, CDs etc. off my hands, it saves me having to shift them and it gives me a lot more living space. Then I'd get a cheap laptop, listen to the same music on that, and start again.

Important motto for the next decade: I think there will be a major move from living somewhere expensive where you have to do humdrum work just to exist, to living somewhere cheap where you can afford to do the sort of work that stimulates you.

Foz wrote:
I shouldn't think he had that much money anyway. Last time I saw him on tv was I'm a Celebrity.... and the time before that was Saturday Superstore in the early 80's. Oh, and anyone remember 'Pop Quiz'?

Pop quiz,yes do indeed remember that:laugh:

Will say however that I do not believe Mike is talentless,you don't last this long in the business without some talent.But how you use that talent is paramount.

Like a lot of celeb stories in the tabloids things probably aren't always what they seem.
You only go bankrupt if your assets are lower than your liabilities. If this record collection is really worth £1m then it would normally be sold to pay creditors before bankruptcy was reached. Usually creditors will accept something less than 100% if the debtor agrees to an arrangement.
Normally the main creditor is the tax man but this debt seemed to be settled as part of his earlier financial troubles. His Oscar show flop appantly cost him £80K.

So if Mike Read has gone bankrupt who is owed the £1m+?

Isn't it spelt Mike READ anyway? Mike Reid is the late cockney comedian who did 'RUNARRRRRRAND' and Eastenders.