Cycling legend Stephen Roche vows to bankrupt comeback after Spanish cycling holiday company goes bankrupt
CYCLING legend Stephen Roche has vowed to return after being declared bankrupt in Spain.
A civil court in the country has ordered the 1987 Tour de France winner to repay €750,000 to creditors after his Mallorca cycling holiday business went bankrupt.
A judge blasted him for “knowingly and negligently” bankrupting his Spanish company, Shamrock Events SL. The ruling also bars him from being a business manager in Spain for seven years.
But father-of-four Roche said he would fight to overturn the findings against him and is appealing the decision.
Roche, who lost his father Larry last week, said: “I will bounce back, definitely. I promised my father that I would.
“The most important thing is that we are appealing (the decision). It’s not final. »
The former professional road racer, considered one of the best cyclists of his generation, built a successful cycle touring business after retirement, but it went bankrupt in 2017.
Roche added: “We have to wait for the call to be heard.
“There’s no evidence for a lot of things and there are huge consequences for something that’s not totally clear.
“We still believe we have a chance to turn things around.”
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Separately, Stephen’s son Nicolas told the Irish Sun last month that he was juggling five jobs to pay his bills after retiring from cycling.
Former top rider Nicolas, 37, split from wife Deborah Robles in 2017 shortly after the birth of their daughter Chloe, now four.
But the Olympian revealed he was struggling to match what he earned before his retirement in 2021.
He said of his current financial situation: “I still have nightmares about it. I was good and didn’t spend all my money.
He added: “I need to work. I can’t stop working.