Ant Anstead’s bespoke carmaker, Radford Motors, filed for Chapter 11 bankruptcy Oct. 22.
The television star was the cofounder of the company that revived the formerly defunct British automaker Radford with the goal of custom building high-end sports cars. Anstead’s company folded amid accusations of fraud and misrepresentation, according to People.
Bednarski explained the decision to file for bankruptcy in a statement issued Wednesday to People.
“Radford Motors is going through a Chapter 11 Business restructure that will be implementing strategic changes to strengthen our foundation for the future,” he said. “During this process, it’s expected that certain ownership transitions will occur, which is an important step in our evolution. We are excited about the road ahead and remain focused on continuing business as usual with renewed energy and purpose.”
One of Anstead’s business partners, Paster (Pat) Velasco, filed a lawsuit against him and co-founder Daniel Bednarski in Orange County in March, claiming he was owed $2 million, according to People.
Televison peronalitiy Ant Anstead attends the Los Angeles Special Screening of Discovery’s series “Serengeti” in Beverly Hills, California, on July 23, 2019. (VALERIE MACON/AFP via Getty Images)
Fellow co-owner Roger N. Behle Jr. also filed litigation July 24, alleging Anstead and Bednarski mismanaged the company’s finances, according to People. That court filing alleged that Anstead and Bednarski secured a new car sale of $100,000, but “took $54,635.52 from this deposit and used it to pay a vendor for work unrelated to the new client’s vehicle,” just hours later, according to People.
“Twenty-nine minutes after the first wire was sent, Bednarski took more of the new client’s funds and paid himself $20,000 via wire,” according to Behle Jr.’s complaint.
The suit further claimed the pair used company money to cover personal expenses such as auto insurance, according to People.
UNIVERSAL CITY, CALIFORNIA – MAY 22: Ant Anstead and Christina Anstead visit “Extra” at Universal Studios Hollywood on May 22, 2019 in Universal City, California. (Photo by Noel Vasquez/Getty Images)
The company filed a counterclaim against Velasco, Behle and others in April.
Bednarski maintained that the company was “committed to its legacy of unparalleled craftsmanship and excellence. This pivotal move ensures the company will continue to exceed client expectations and shape the future of luxury vehicles,” according to People. (RELATED: ‘Lost All The Money’: Cher Admits To Losing Her Entire Fortune In The ’80s)
Anstead is best known for starring on HGTV and for his high-profile marriage to Christina Haack from 2018 to 2021. He is currently dating actress Renée Zellweger.
This article was originally published at dailycaller.com
