If you actually read the article, to be fair to him it says the property is worth £1.3 million at the moment. He's only spent £700K on it which means he will make over half a mill profit so going bankrupt seems way off the mark. He'll either sell it now for a tasty profit - hence why he probably wanted to go in the paper with it in the first place, or wait till the housing market recovers and make a bigger profit. I doubt he is losing much sleep over it.