Former Atomic Kitten Star's Porsches Repossessed

It seems that Lily Allen is not the only star that has been badly hit by the credit crunch and consequently, has had to sell her BMW. In fact, another celeb seems to feel the effects of the global recession even more than Lily.

According to runcornandwidnesworld.co.uk, Kerry Katona's cars are currently being sold by a Runcorn company. The English television presenter was officially declared bankrupt in August last year over a £82,000 tax bill and consequently, her two Porsches were repossessed as she couldn't pay the leasing any longer.

Kerry bought the silver Porsche 911 Carrera in May 2007 and spent £10,000  for extras. Those who are interested in the former popstar's Carrera can buy it for £58,994, with her husband Mark Croft’s personalized registration plate on it.

The other car belonging to the couple that's going to be sold for £46,994 is a Porsche Cayenne. It cost £60,000 last year.

Both cars are being advertised on the Internet by AB Holdings of Runcorn, a company that deals in cut-price luxury cars.

"They had to call up the finance company and tell them to take back the cars because they don't have the cash to keep them," a friend of the couple told News of the World. "The cars were on lease agreements - you can't keep those deals when you are facing bankruptcy proceedings," the source added.

In fact, three other vehicles,  a Lamborghini, an Aston Martin and a Range Rover were already taken from the couple last year.

After losing five luxury vehicles in less than one year, the couple, has got, however, two more cars in their garage: a £45,000 Mercedes saloon for her and a £55,000 Nissan GT-R for him.