Former Walsall midfielder Danny Guthrie has filed for bankruptcy after he racked up £120,000 worth of gambling debts.
In May 2019 he borrowed £75,000 from a friend to pay his expenses, promising to repay the loan after selling a home.
But before that he ran up the gambling debts, and when he sold the property in 2020 for £160,000, he chose to repay those debts ahead of other creditors.
It means he is under a number of restrictions, including not being able to borrow more than £500 without disclosing his bankrupt status, and he cannot act as a company director without the court’s permission.
The Insolvency Service said he did this “by making several cash withdrawals despite knowing he was insolvent”.
Guthrie accepted a six-year bankruptcy order until May 2028 at Stoke County Court.
Danny Guthrie played thirty nine times for the Saddlers before moving to Fram in Iceland last year.
