Former Dundee United chairman Stephen Thompson announces bankruptcy

Former Dundee United chairman Stephen Thompson has announced that he has filed for bankruptcy.

The businessman was a guest on BBC’s Off the Ball radio show on Saturday afternoon where he spoke about his time at the club.

When asked by host Tam Cowan what he has been up to, he said: “Well, I’ve kind of hit rock bottom to be honest. I actually signed a petition for bankruptcy yesterday.

“It’s not a great place to be in life but it’s a fresh start for me.”

Thompson, who was forced to sell his convenience store chain Eddy’s in April, also spoke of the decision to close the shops.

He said: “The stores were making money.

“We started up at the wrong time, in September when the energy crisis came along.”

Mr Thompson made an appearance on the football-based show to declare his interest in returning to the sport.

He said: “I’d like to get back involved in football or sport. I was involved in football in America for a couple of years as well.

Former Dundee United chair aiming for football return

“There was a lot of success at United, I think everyone remembers what happened at the end, and that’s football.

“I’ve watched United since I was four years old.

“I’m a massive football fan, I watch it every night. My teenage son comes and watches it with me.

“You know, when you’ve been on the inside running (it), it’s a different thing from being on the outside.

“I’d like to back into football but it isn’t easy.”

He also shared how he felt having to look after the club following his dad’s passing.

He said: “It was a hard act to follow that’s for sure. Following the footsteps of such a high profile, but he left me with £7.2 million in debt as well, so that was fun.

“We managed to get that down to £1 million. I got a bit of a learning curve sitting on the board for a few years with my dad.

“It was a bit of a rollercoaster.

“We went from winning the Scottish Cup to getting relegated. You can’t get higher and lower than that as far as I’m concerned.

“I loved the club and it didn’t end in the best way, but that’s football.

Thompson also revealed that selling Stuart Armstrong and Gary Mackay-Steven to Celtic was his biggest regret as chairman.

You can listen back to Thompson’s interview on the BBC website.