Teddy Briggs’ controversial business has collapsed following several customer complaints and legal issues.
The Love Island star, 29, who appeared on the first season of the reality show in 2018, started the company EcomConnect which built online stores for clients to sell and ship products.
His company, based under a ‘dropshipping’ model, promises clients products from their e-commerce platforms to be sourced wholesale, before getting shipped straight to customers.
‘At EcomConnect we build the whole business for you. [It is] guaranteed to work. Start making sales right now,’ Briggs previously told his social media followers.
However, several disappointed customers took aim at the business earlier this year.
Teddy Briggs’ controversial business has collapsed following several customer complaints and legal issues
Many have claimed the EcomConnect business ‘over-promised and under-delivered’, according to The n.
Oracle Insolvency Services were appointed to wind up the business on Monday.
The Adelaide-based firm estimate EcomConnect owes customers, as well as suppliers and the n Taxation Office ‘several hundred thousand dollars’.
Yulia Petrenko, Oracle Insolvency Services partner, said five customers lodged individual court actions against the company, per The n.
The Love Island star started the company EcomConnect which built online stores for clients to sell and ship products
His company, based under a ‘dropshipping’ model, promises clients products from their e-commerce platforms to be sourced wholesale, before getting shipped straight to customers
The customers claim the company ‘under-delivered’ on their promises and are seeking compensation of $60,000.
‘We are also aware of media reports detailing dozens of other customers who are unsatisfied with EcomConnect,’ Ms Petrenko told the publication.
‘Oracle Insolvency Services is committed to doing all that we can to help those affected by the collapse of this company.’
Briggs has reportedly complied with all requests in supplying company documentation.
In 2020, the reality star found passion for e-commerce and his background in finance pushed him into pursuing this career.
Briggs, 29, appeared on the first season of Love Island in 2018
Daily Mail understands he was making $75-$80k per month selling beauty products, timepieces and clothing online and was set to make up to $1million by 2021.
At the time, Briggs confessed to Daily Mail that he nearly ended up bankrupt following his stint on the Channel Nine reality show.
‘I lived the party life a bit. I did a three-month nightclub tour of where I was doing nightclub appearances three nights a week,’ he explained.
Rather than saving his money, Teddy admitted all his income was spent on designer clothing, partying, and travelling the globe while trying to keep up with living life as an influencer.
After his club appearances started to dry up, companies stopped asking him for Instagram shoutouts and Teddy was left in a ‘worse financial position’ than he was before appearing on the show.
He previously made $1000-$1500 per nightclub appearance and $500-$800 per sponsored Instagram post.
‘I basically ended up nearly broke at one point, once everything completely dried up,’ he explained.
The Adelaide-based star said he was so desperate to get his finances in order, he worked at a clothing store for $25-an-hour because he was ‘too embarrassed’ to go back to his day job in finance.
He most recently appeared on the seventh season of The Amazing Race , competing alongside best mate and Too Hot to Handle star Harry Jowsey.
Many angry customers have claimed the EcomConnect business ‘over-promised and under-delivered’