John Torode's financial heartache as TWO firms went bust owing £160k
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John Torode has been faced with a fresh blow following his MasterChef sacking as it's revealed two of his businesses went bust owing over £160,000 to creditors.
The TV chef, 60, plans to take legal action against the BBC for unfair dismissal after it was claimed in a report that he used racist language. Torode has insisted he does not remember this ever happening.
But as well as the public fallout with the broadcaster, MailOnline can reveal that Torode has also faced financial probles as two of his TV production firms went under in the last six years owing huge amounts.
Marcel Ltd - named after his son from a previous marriage - was dissolved in December 2019 after going bust three years earlier with debts of £104,219.
It was wound up in a creditor's voluntary liquidation - this is a process whereby a business is closed down as it cannot repay its debts.
According to its 'statement of affairs' filed with Companies House, it owed £36,388 to the HMRC, £13,950 to trade creditors and £53,881 to another firm owned by Torode, Toad Productions Ltd, which also went bust at exactly the same time.
John Torode has been faced with a fresh blow following his MasterChef sacking as it's revealed two of his businesses went bust owing over £160,000 to creditors
The TV chef, 60, plans to take legal action against the BBC for unfair dismissal after it was claimed in a report that he used racist language. Torode has insisted he does not remember this ever happening
Torode also owed £55k for an overdrawn director's loan account.
The liquidator's report states that after meetings with Torode and his accountant, it was agreed that he should pay back £33,348, which he duly did in installments over six months.
After £23k liquidator fees, there was only enough to pay £9,890 to creditors, which is 9.37 pence in the pound.
At the same time, Toad Productions Ltd was wound up in August 2016 and eventually dissolved in February 2021.
It owed £58,203 - £54,603 to HMRC and £3,600 to trade creditors - according to its 'statement of affairs'.
Liquidators clawed back £8.5k, but after paying their fees, there was nothing left for creditors.
This week, his only active firm Caspar 10 Ltd filed its accounts. Caspar is the name of his other son with ex-wife Jessica.
It showed that reserves had increased by £40,132 on the previous year - and now stand at £47,351.
The amount it owes creditors is £93,523.
MasterChef bosses are reportedly pushing to air Wallace and Torode's final series 'when the dust settles' after they were both sacked from the cooking show
Torode didn't feature on the recently published BBC's highest earning stars - and it's not clear how and where he gets paid his beeb salary.
It comes as it was revealed by MailOnline that Torode could take legal action against the BBC after he was sacked from MasterChef.
Sources suggest the chef is 'preparing to launch a lawsuit against the BBC' and wants to pursue bosses for unfair dismissal.
'He's telling people there is no proof of his supposed comment. It was not in a work capacity, it was just hearsay. John is determined to clear his name,' sources told The Mirror.
But, such legal action may prove impossible for John as sources told MailOnline his contract was with Banijay rather than the BBC.
This comes as MasterChef bosses are reportedly pushing to air Gregg Wallace and Torode's final series 'when the dust settles' after they were both sacked from the cooking show.
The upcoming series' - which have already been filmed - features former I'm A Celeb star and restaurant critic Grace Dent, who replaced Gregg to co-host with John.
The upcoming series' - which have already been filmed - features former I'm A Celeb star and restaurant critic Grace Dent , who replaced Gregg to co-host with John
The Sun reports that The BBC and production company Banijay plan to air both the amateur and celebrity editions.
However, MailOnline understands BBC director general Tim Davie, who has the final say, has not yet made his decision on whether MasterChef will or will not be aired.
A source told the Sun: 'The BBC and Banijay have faced a moral and professional dilemma like never before. Obviously Gregg's case was more clear cut, but Torode being dragged through the mud wasn't what anyone wanted or expected to happen.
'But at the same time, and as a publicly funded body, the BBC has a duty to both provide entertainment as well as fulfil its obligations to cast, crew, contestants and viewers alike.
'If they were to can these two series, hundreds of people — those who appeared or worked on the shows — would be so bitterly disappointed. So the feeling at present is that the show, quite literally, must go on — albeit once the dust has settled and all the fuss died down.'
MailOnline has contacted the BBC for comment.
However, MailOnline understands BBC director general Tim Davie (pictured), who has the final say, has not yet made his decision on whether MasterChef will or will not be aired
The Australian chef was dramatically axed from MasterChef - hours after the BBC's director general refused to back him over an allegation of using racist language.
The corporation said the host's contract would not be renewed after a report found he had used an 'extremely offensive racist term' during drinks after filming the show.
The complaint against Torode was revealed in the report into co-presenter Gregg's inappropriate behaviour.
Gregg, 60, was sacked after dozens of complaints against him were upheld.
Torode identified himself on Monday as an unnamed person in the report who was accused of using 'racist language'.
However, the presenter said 'he had absolutely no recollection' of the incident and did 'not believe that it happened'.
But in a statement yesterday, the BBC said: 'This allegation - which involves an extremely offensive racist term being used in the workplace - was investigated and substantiated by the independent investigation led by the law firm Lewis Silkin.
'The BBC takes this upheld finding extremely seriously.
'We will not tolerate racist language of any kind and we told Banijay UK, the makers of MasterChef, that action must be taken. John Torode's contract on MasterChef will not be renewed.'
Hours before the announcement, BBC director general Tim Davie had refused to back Torode and said he expected 'action to be taken' over the allegation.
He delivered the remarks as the BBC released its annual report - an occasion overshadowed by controversies for the second year in a row.
Last year's was published amid the fallout over news presenter Huw Edwards who pleaded guilty to possessing indecent images of children.
Asked about the Torode racism row, Tim Davie said: 'The BBC in some ways are quite simple on this - if someone is found to not live up to our values we expect the independent company, Banijay in this case, to take action and report back to us on what they have done.
'These are not BBC employees, but we absolutely expect action to be taken.'
Tim added: 'I think a great programme that's loved by audiences is much bigger than individuals.
'It absolutely can survive and prosper, but we've got to make ing drinks sure we're in the right place in ness terms of the culture of the show.'
It had been alleged by a source close to Torode that he had used an inappropriate racial term during drinks after filming. The witness claimed he had apologised immediately and 'was mortified' and he 'didn't use the term as a slur'.
No one complained at the time but the incident was brought up during the inquiry into Gregg, they said.
On Monday, Torode said he had 'absolutely no recollection' of the incident and was 'shocked and saddened' by the allegation. 'I would never wish to cause anyone offence,' he added.
Responding to his sacking, Torode, who is married to actress and former Celebrity MasterChef contestant Lisa Faulkner, said: 'I'd hoped that I'd have some say in my exit from a show I've worked on since its relaunch in 2005, but events in the last few says seem to have prevented that.'
He said he 'had loved every minute' working on the show but it was 'time to pass the cutlery to someone else'.
'Life is everchanging and ever moving and sometimes personal happiness and fulfilment lay elsewhere,' he added.
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