No Rise: Boy Band Have Gone Bust

Boy band Blue have gone bust despite being in the middle of a comeback tour.

Lee Ryan and co have reportedly had to call in administrators for their company Blueworld Ltd which owes thousands to creditors.

The Blue boys: Simon Webbe, Antony Costa, Duncan James and Lee Ryan. 

A spokeswoman for the band told The Sun newspaper: "Blue have been open about their recent financial struggles and are restructuring their business model."

She added: "A new tour starts in October and we have already had to add new dates."

Their current tour, which includes dates in Europe and the UK, comes off the back of Blue's appearance on ITV2 show The Big Reunion.

They are on tour at the moment. 

Even still, an insider revealed that it is uncertain as to whether the boys will be able to pay back all of the money owed: "There was no warning that the band had money problems. This has come as a complete shock.

"Letters have been sent out by the administrators to creditors who are owed substantial sums by the band. No one knows if they will get the full amounts they are owed or if it will be much less."