Coronation Street star Simon Gregson is resorting to selling his car to cover a substantial tax bill he owes. The renowned actor, famous for his role as Steve McDonald on the ITV soap opera, is complying with an order to repay a loan of £252,000, which has put his home at risk.

Amid the closure of his business, Simon Gregson Productions Ltd, owing £165,000 to the tax office and a bank after going into liquidation, the actor faces the possibility of selling his home. Liquidators overseeing the winding-up process have determined that there are no other viable options to recover the debts owed by Simon.

In a bid to raise funds, Simon has decided to sell his 2005 black Ford Fiesta through an auction. Hamspon Auctions, handling the sale, announced the entry of the vehicle on Instagram and shared details on how interested buyers can participate.

Following the transfer of £252,000 from his company to a private account, liquidators have instructed Simon to make monthly payments of £1,500. Moreover, he has been informed that after 36 months, any remaining balance must be settled through the sale of his residence.

However, a recent business report revealed that Simon had managed to repay £18,000 over the past year in accordance with the terms of the settlement agreement. The liquidators, Begbies Taynor, noted that the administration process of the case would continue due to the outstanding balance on the Director’s loan account.

In an effort to earn extra income, Simon is offering tours of the Coronation Street set to fans, with participating cast members making around £500 per tour. The Mirror has sought comments from his agent regarding the ongoing situation.

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