Say What? Amy Winehouse's '£10 Million Fortune Reduced To Just £118,000'

 Will Alexander/WENN Mr. Blue/WENN
Will Alexander/WENN Mr. Blue/WENN

She was one of Britain's most prized singers to emerge for years before her untimely death in 2011 and with Amy Winehouse's fame came plenty of fortune; however, it has been revealed that the soul legend's £10 million empire has dwindled down to just £118,000.

So what has happened to all the millions in between? According to The Mirror, the Valerie singer's parents Mitch and Janis have had to use a large chunk of her earnings to settle bills and debts accumulated by the 27-year-old before her death two years ago.

Say What? Amy Winehouse's '£10 Million Fortune Reduced To Just £118,000'
Say What? Amy Winehouse's '£10 Million Fortune Reduced To Just £118,000'

Mitch Winehouse has admitted that (Mr. Blue/WENN)

They are said to have taken loans of £600,000 to cover costs from her financial affairs and Mitch - who was expected to share £3 million from Amy's will with his ex-wife - revealed that sorting out her estate had cost them an “absolute fortune”.

A source close to the family said yesterday that a new account to be published in August would reveal that royalties from her album sold since her death would "substantially boost her legacy".

But this week accounts were published for Lioness Records which showed substantial losses to several of the singer's companies. Despite the news, Amy’s two studio albums, Frank and Back to Black, both saw a jump in sales following her death.

The source went on to explain that Amy's estate has incurred other expenses, including legal fees, mortgage payments, security and taxes.

Speaking recently about the sale of Amy’s home, Mitch said: “It was an incredible drain on our resources. We had to have a lot of security and it cost us an absolute fortune.”

Amy Winehouse Tribute Gallery

Charlie Sheen's Ex Brooke Mueller 'Thankful Denise Richards Is Watching Kids After Losing Custody'
Back To Business! Dolled Up Kim Kardashian Joins Khloe And Kourtney In US Following Appearance At Be
Justin Bieber Causes Chaos Amongst Beliebers As He's Two Hours Late For Dubai Gig

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes