Just like his famous sister, model Miranda Kerr, Matt Kerr opted for a beautiful backyard wedding surrounded by friends and family when he tied the knot with husband James.
But while Miranda, 36, is happily about to welcome her third child with her billionaire husband, Snapchat CEO Evan Spiegel, her younger brother hasn’t been so lucky in love.
In a shocking turn of events Matt, 33, has split from his husband James, 41, and heartbroken Matt has returned to working with his famous family after leaving their dream restaurant business, Nanna Kerr’s Kitchen – named after Matt’s beloved grandma Ann.
Since then his estranged husband’s company has gone bust and James is struggling to pay off his mounting debts.
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Bankruptcy
Matt Kerr (left) and James opened Nanna Kerr’s Kitchen in 2015.
(Source: Instagram)Speaking exclusively with Woman’s Day, James confirms the pair went their separate ways at the end of 2018, adding that since then he has been left with no choice than to go bankrupt and kiss goodbye to his life savings as his company goes into liquidation.
“The split was very hard – Matt left the relationship and the business. I have had to declare bankruptcy,” confirms James.
In December 2016 Matt and James tied the knot in front of 280 friends in the grounds of Leaflee, their B&B property in the NSW Hunter Valley.
The couple had the picture-perfect wedding and Miranda was “chief groomsmaid.”
(Source: Instagram)Matt’s mum Therese Kerr officiated the wedding and Miranda was by their side taking the role as chief “groomsmaid”.
“Our faces ached from smiling and our hearts were bursting with love and excitement for what we’d achieved and what was still to come,” Matt said at the time.
A few months earlier, James had funded the pair’s restaurant venture, selling his property and using the last of his savings as the $800,000 equity.
At the beginning the business flourished.
(Source: Instagram)To begin with, the business flourished, as did the newlyweds, who were working hard to build something for their future.
“It was always implied that it was the Kerr fortune that was bankrolling the restaurant,” says a friend.
“The local community, the media, the customers certainly believed that, and the boys played along with that perception because it was good for business.”
But despite appearances, billionaire Miranda – who with her husband Evan is worth an estimated $4.4 billion – and the rest of her family never had any involvement.
And while outwardly things looked good, behind closed doors the business was haemorrhaging money and by the middle of 2018 James had sold everything he owned.
With more mounting bills to pay, he turned to family to bail him out.
Struggling
Miranda caught up with Matt whenever she was in Australia.
(Source: Getty)“James’ family are by no means rich, but his father had recently sold his own business so was able to loan him some money to keep the business going,” reveals the friend.
Turning to “loan sharks”, more money was borrowed to pay bills and staff.
“It was no secret,” says the friend.
“They caught up with Miranda socially whenever she was in town and it was clear they were really struggling mentally and financially.”
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With events going from bad to worse the stress took its toll on Matt, James and their marriage.
“Matt changed – he was barely going out and eventually ended their four-year relationship, heading back to the family cosmetic business and taking back his old job,” says our source, adding that Matt has since moved on with a new man.
Now there’s been nothing left but for James to prepare the papers to declare bankruptcy and wonder where it all went so horribly wrong.
