Simon Gregson is facing the prospect of having to sell his home as he continues to repay a £252,000 loan taken from his former production company.
The 51-year-old, best known for portraying Steve McDonald on Coronation Street, has been making monthly payments following the collapse of his business venture.
A report filed this week reveals that Mr Gregson has returned £18,000 over the past year towards the outstanding debt.
However, liquidators have warned the long-serving soap star that any remaining balance after 36 months of repayments must be settled through the sale of his property.
Coronation Street Simon Gregson is in more financial trouble
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The financial difficulties stem from the actor transferring funds from Simon Gregson Productions Ltd into a personal account.
The company entered liquidation in 2023, leaving debts of £165,000 owed to HMRC and Coutts bank.
Mr Gregson's transfer of the substantial sum from his production firm triggered a confidential report to the government regarding his conduct.
Under the terms of a settlement agreement, the actor was instructed to repay the missing funds at a rate of £1,500 each month.
The actor was instructed to repay the missing funds at a rate of £1,500 each month
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The winding-up process has also proved costly, with expenses reaching approximately £51,000 despite a cap of £44,000 being in place.
Adding to his financial pressures, sources suggest Mr Gregson has been hit with a separate £100,000 tax bill.
The liquidation process remains ongoing as administrators continue to oversee the repayment of the director's overdrawn loan account.
Liquidators Begbies Taynor confirmed in their latest report that payments are being received as agreed under the settlement terms.
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The cast of television soap Coronation Street photographed outside the Rovers Return Inn, circa 1991
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"We have received £18,000 during the year under review in respect of the overdrawn Directors loan account which is in line with the terms of the settlement agreement," the firm stated.
The administrators added that they have been unable to complete their duties due to the outstanding balance on the director's loan account, meaning the case will continue into the next reporting period.
Should Mr Gregson fail to clear the debt within the three-year timeframe through his monthly instalments, he will be required to use proceeds from selling his home to satisfy the remaining amount owed.
The situation leaves the veteran soap performer in a precarious financial position as the repayment deadline approaches.
To supplement his income during these challenging times, Mr Gregson has taken on work as a tour guide at the Coronation Street studios in Greater Manchester.
Cast members who participate in the popular fan experiences receive £500 for each appearance, guiding visitors around the iconic set.
The tours, which cost £55 per person, give fans the opportunity to meet stars from the long-running soap.
Promotional material for the experience describes Gregson's recent participation enthusiastically, noting what "a lovely guy" the actor was when he joined the tour roster.
Mr Gregson has reportedly been hit with a separate £100,000 tax bill.
|Other cast members who have previously hosted similar tours include Sally Dynevor, Sam Aston, Chris Gascoyne, Julia Goulding and Andy Whyment.
The additional earnings provide Mr Gregson with some financial relief as he works to clear his substantial debts.
Mr Gregson first appeared on Coronation Street in December 1989 at just 15 years of age, quickly becoming a household name through his portrayal of tearaway teenager Steve McDonald.
Apart from a five-month hiatus in 2015, the actor has featured consistently on the ITV programme for 37 years.
Last year, amid his financial troubles, Mr Gregson was forced to address speculation that he had separated from his wife Emma Gleave after she was described as his "estranged wife" in court documentation relating to the repayments.
The couple reportedly have no explanation for why the paperwork contained this description, with sources confirming at the time that they remained together.
The actor has previously spoken about the impact that sudden fame at such a young age had on his mental health.
Mr Gregson's agent has been contacted for comment.