Blue singer Simon Webbe was declared bankrupt in September just weeks after his bandmate Duncan James went bust.
Blue star Simon Webbe has been declared bankrupt.
The 35-year-old singer filed bankruptcy papers at the High Court on September 25, just weeks after bandmate Duncan James also went bust.
Simon set up his own independent record label, SK Records, with business partners Karan and Preeti Singh last year.
They signed ex-'Waterloo Road' actor Lucien Laviscount, who released a dance track with an R&B vocal, along with British singer-and-actor Ashley Walters.
Blue - who are currently on a comeback tour of the UK following their stint on ITV2 show 'The Big Reunion' - released their fourth album 'Roulette' earlier this year.
It featured their Eurovision Song Contest entry 'I Can' and reached number 13 in the UK album chart.
They have also recorded a Christmas single with the rest of the acts on the show - Liberty X, Atomic Kitten, B*Witched and Five - covering Wizzard's 1973 hit 'I Wish It Could Be Christmas Everyday'.
Blue originally split in 2005 before reforming in 2009, but their company Blueworld went into administration in May this year, owing thousands of pounds to creditors.
The company ran the band's website and fan club.
Duncan was declared bankrupt on September 12 at the High Court in London.
He had invested in property at the height of the market and lost a fortune when it crashed.