Amanda Holden's husband QUITS as director at her talent agency

EXCLUSIVE: Amanda Holden’s husband Chris Hughes quits as director of troubled talent agency that represents her

Amanda Holden’s husband has quit as a director of the troubled showbusiness agency which represents both her and fellow Britain’s Got Talent judge Simon Cowell.

Chris Hughes resigned as a director of the holding company of YMU – which also managed disgraced This Morning star Phillip Schofield – on April 18.

The business has called in advisers to explore financial restructuring. Its latest accounts reveal that it made a loss after tax of £4.8million and has net liabilities of £74.7million.

One source suggested this week that the company may be exploring the possibility of a sale.

It has been in talks for weeks with creditors Lloyds and Permira Credit.

Resigned: Amanda Holden’s husband has quit as a director of YMU – the troubled showbiz agency which represents both her and fellow Britain’s Got Talent judge Simon Cowell

They have appointed the consultants AlixPartners, experts in turning around firms in a crisis, to carry out an independent business review.

In an email to staff this month, YMU boss Mary Bekhait confirmed the ongoing strategic review.

She said: ‘Like all businesses that rely on live entertainment, music and sport, we were impacted by the pandemic and obviously economic conditions are tough at the moment.’

She added that the group had recently signed model and podcaster Emily Ratajowski and socialite DJ Paris Hilton, and concluded: ‘We are on track for significant profit growth in 2023.’

Mr Hughes did not respond to requests for comment on his position.

Two years ago he signed Cowell to the agency, a move which was widely seen as a personal coup.

Mr Hughes is one of ten directors who have stood down in the past three years from YM&U Topco Limited, the holding company.

A company source said two of the ten departing directors were employees of YMU’s buyers Trilantic, who had subsequently left the firm.

Three of the others who have left the board, including Mr Hughes, continue to work for the company.

In notes to the last accounts of YM&U Topco, filed in August last year, the company said it had indemnified ‘one or more’ directors against liability in proceedings brought by third parties in relation to section 234 of the Companies Act 2006. This relates to negligence, default, breach of trust and breach of duty by directors.

Concerning: Amanda management YMU has called in advisers to explore financial restructuring. Its latest accounts reveal that it made a loss after tax of £4.8million

Changes at YM&U – formerly known as James Grant – may have huge repercussions because it is one of the biggest noises in the UK’s showbusiness industry.

Among the stars on its books are Ant and Dec, Claudia Winkleman, David Walliams, Davina McCall, Paddy McGuinness, Tess Daly, Vernon Kay, Ruth Langsford, Matt Willis, Rob Rinder, Rylan, Joe Swash, Fearne Cotton and Graham Norton.

It was set up in 1984 by former Radio 1 DJ Peter Powell and Russ Lindsay. In 2008 the company was bought by media group Formation and then sold a year later to a private equity firm.

In 2014 buyout firm Metric capital took over before it was sold to Trilantic and rebranded as YMU.

The company managed both Schofield and his This Morning co-star Holly Willoughby but she left in August 2020. There followed a legal action over so-called sunset clauses which allowed YMU to claim money for her from deals which it set up. That was settled out of court.

Schofield was dumped by YMU after details of his affair with a colleague on This Morning 30 years his junior emerged.

Ms Bekhait said at the time that the agency had severed ties with him after discovering ‘important new information’ about his relationship with the young runner.

‘Honesty and integrity are core values for YMU’s whole business, defining everything we do,’ Ms Bekhait said. ‘Talent management is a relationship based entirely on trust.’

YMU also employs Schofield’s daughter, Molly, as a talent manager.

Schofield acknowledged in an interview with the BBC this month that his career was over after lying to his wife, employer and colleagues about the relationship.

YMU says it represents more than 1,000 clients and has a staff of around 350.

Off their books: Chris Hughes resigned as a director of the holding company of YMU – which also managed disgraced This Morning star Phillip Schofield  (pictured) – on April 18

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