Bankrupt Colin Hendry will lose home as beloved mansion is put up for sale

A "FOR Sale" sign outside the home of Scotland's former football captain is the latest evidence of Colin Hendry's fall from grace.

The man they once called Braveheart has been forced to sell the family home where he raised his four children and nursed his wife Denise through her years of illness.

Hendry, who was declared bankrupt by a court earlier this week, was forced to put his seafront Georgian mansion in Lytham St Annes on the market when the true state of his financial affairs came to light.

A source close to the footballer said: "Basically, there is hardly any equity in the place despite the work he and Denise had done on it over the years. If there is anything left, the official receiver will want it."

The asking price for the property was disclosed by the agent handling the sale as 1.75 million. Hendry originally paid 1m for it. The former Rangers and Blackburn Rovers defender who went on to become the manager of Clyde and Blackpool has been dogged by financial problems since the death of his wife Denise in 2009.

Although it was initially believed the footballer got into financial difficulties because he was unable to earn while looking after his wife, it later emerged he had run up substantial gambling debts.

The petition for bankruptcy was led by Spreadex, an online gaming company to whom he owes 35,000. According to court papers, Hendry also owes 10,000 to the parents of his late wife Denise, 35,000 to his brother and another 60,000 to his late father's estate.

Among his other debts are 85,000 owed to his former neighbour, Hector McFarlane, who lent Hendry money when his late wife was gravely ill.

Denise Hendry became ill in 2002 when a botched tummy tuck operation left her with a catalogue of health problems. She died in 2009 of a brain infection after years of illness. She was one of 14 women to complain about the private cosmetic surgeon Gustaf Aniansson, who carried out the liposuction procedure at the private Broughton Park Hospital, and she won a record six-figure sum in compensation.

In an interview given after her death, Hendry said his wife, who he met in a nightclub in Dundee, had been his strength and his support: "What we had gave me the platform to build my career. Nothing would have been achieved without her."

Hendry, who is currently at his holiday home in the South of France, initially hoped he would be able to hold on to his beloved family home in Lytham.

In a statement issued after the bankruptcy proceedings this week, the former Scotland captain said his current plight was due to bad financial advice. He said: "I have gambled in the past but not to the extent some people may think. What worries me now and what I am unsure about is what impact this will have on my ability to earn money in the future. It has already had a bad effect on my family."

The footballer's two oldest children, Kyle and Rheagan, are now grown up – but younger children Calum and Niamh still live with their father.

Hendry owns another property in Lytham which is also on the market. A holiday home in Antibes is outside the jurisdiction of the court.

Former Scotland manager Craig Brown said yesterday that he did not want to comment on Hendry's misfortunes. But he said he had great memories of Hendry's record on the pitch and as captain.

"He was a fine player and a very good captain and a very honourable guy in my experience. He was one of these players who had a great natural ability on the pitch."