Receivers Move In At Cullen's Car Business

On Irish television, he plays Donald Trump's role on The Apprentice.

But Bill Cullen's own business is in serious trouble, and last week Ulster Bank appointed receivers to Glencullen Holdings, the company which was his main income generator.

The business was one of the best-known car dealerships in Ireland, selling mainly Renault cars at two flagship stores in Dublin.

But in August he lost the Renault dealership, the French car company breaking ties that went back to 1986.

He had tried unsuccessfully to get deals with other brands including Kia, Hyundai and Puegot.

In recent weeks, he fought tooth and nail to keep his interest in the company alive.

He pumped €1.5million in cash into the business, and was poised to inject a further €1.5m from auctioning off some of his property assets.

Mr Cullen maintains he had a plan to repay the full €12m owed.

"Car dealerships built at Celtic Tiger prices have been written down by more than 70pc," a statement issued on his behalf said.

"With the dreaded December Budget on the horizon, the poor forecast for 2013 car sales does not give any confidence to the banks.

"A receiver is moving in. He's quite sad about it. He gave it everything and tried all he could to save the business but unfortunately it wasn't to be."

While there have been some "You're Fired" jokes, there is very little schadenfruede in Ireland over Mr Cullen's demise.

He remains an extremely popular figure, and is considered an honest broker.

He continues to retain control of the Muckross Park Hotel Cloisters Spa in Killarney, which he co-owns with his partner Jackie Lavin.

Although the hotel has been loss making, there are indications that it will begin to turn a profit next year.

Cullen's 2001 autobiography, It's a Long Way from Penny Apples, tells his remarkable story.

He was born in Dublin's north inner city, one of 14 children.

He left school at 13 to work on his mother's stall on Moore Street selling apples.

The following year he was hired as a messenger boy at a Ford dealership, and within a decade was running the company.

Nobody would bet against him bouncing back from his latest troubles.

Born in Summerhill in Dublin's north inner city, one of 14 children, he cut his business teeth working at his mother's stall on Moore Street, selling fruit, sweets and whatever else, an experience he says stood to him during his rise to the top of the motor trade.