According to the The Lexington Herald-Leader, Montgomery Gentry star Eddie Montgomery filed for bankruptcy on December 31. He listed $13.4 million in liabilities and $1.9 million in assets.
Even though his group Montgomery Gentry had success with hits like “Gone” and “Lucky Man,” it was the restaurant business that he began with his wife as well as his divorce that created his financial problems.
The singer’s attorney, Jamie Harris, told the Herald-Leader, “Due to his divorce and the restaurant closure, Mr. Montgomery filed for Chapter 7 relief to address these ongoing issues. It is very common with individuals dealing with divorce and business closure to have to seek out bankruptcy relief.”
So far Mr. Montgomery hasn’t commented on the matter.