02/02/2014 08:41 GMT | Updated 02/02/2014 08:59 GMT

Kerry Katona 'Facing Bankruptcy For The Third Time'

Kerry Katona is facing bankruptcy for the third time, according to reports.

The 33-year-old - who is pregnant with her fifth child - reportedly split with her manager over money and now friends say she is struggling to pay the £5,000-a-month rent on the six-bedroom Oxfordshire mansion she shares with her fiancé George Kay.

Kerry Katona

A friend of the Atomic Kitten star told The Sun: “She lives beyond her means. She’s negotiated a £50,000 magazine deal for her wedding, but that’s not until the summer.

“She worked on a doomed start-up radio station and money from ITV’s The Big Reunion has dried up because the second series has new bands.”

After first being declared bankrupt in 2008, Kerry was dropped as the face of payday loan company Cash Lady after filing for bankruptcy for the second time in July last year.

She subsequently cancelled her wedding to George, admitting it had put a strain on their relationship.

"Yeah, we can’t afford it," she said at the time. "It’s not a priority – as long as we’re together, that’s the main thing.

"It has definitely put a big strain on us… If this was five years ago, I’d probably turn straight back to drugs, but I’m in a completely different place now."

But despite a potential third bankruptcy on the horizon, Kerry was remaining upbeat yesterday, telling the Sun on Sunday: “As with every family after Christmas, money is tight.

“But that’s every year, whether I’m bankrupt or not. We all know I’m not rolling in it but I’m doing my best to get back on top. And praying to win the lotto!”

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