A MAN who founded a charity that helps out Islanders in urgent need faces the prospect of personal bankruptcy after giving too much of his money away.

Colin Taylor, who ran the Forester’s Arms at Beaumont and the Union Inn at Mont à l’Abbé, set up the William and Helena Taylor Trust, a charity that assists people in desperate need who cannot get help from official agencies.

However, he has been unable to meet his own liabilities as a result of the combination of the crash in property prices in the UK, the credit crunch, bad business deals and giving away his own cash to help others.

‘I spent too much time and money helping out others and didn’t keep my eye on the ball. The credit crunch has hit hard and I could yet face bankruptcy,’ he said.

He estimates that he has given about £250,000 of his own money to deserving Islanders in need. But loss of personal wealth is not stopping Mr Taylor helping other people. He said that his life had been transformed since he moved to Jersey and he now intends to work for the church on a part-time basis.