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Lorrie Morgan Lands On “Bankrupt”

By Wyatt Earp | October 26, 2008

And, unfortunately, she doesn’t have a “Free Spin.” Hell, judging by that photo, she can’t even afford to buy clothes!

NASHVILLE, Tennessee — Country singer Lorrie Morgan has filed for bankruptcy for primarily business related debts, according to a court filing.

Morgan filed for Chapter 7 bankruptcy in federal court, listing her estimated liabilities between $1 million to $10 million. The bankruptcy filing showed her with assets of $500,000 to $1 million.

The 49-year-old singer, who lives in the Nashville, Tennessee suburb of Lebanon, released a statement calling the bankruptcy “an unfortunate yet necessary part of the restructuring of my business.”

“It’s very important to me that my fans and business associates understand that I’m OK,” she said. “Today’s economic times have affected many American families and businesses. I, along with many of you, am not immune to this fact. I would appreciate the courtesy of my friends and fans respecting my privacy regarding this matter.”

Morgan lists her creditors as the Internal Revenue Service, banks, lawyers and others. Phone calls made by The Associated Press on Friday to Morgan’s bankruptcy trustee and attorney weren’t immediately returned. (H/TCNN)

The calls weren’t returned because the phone company shut off her service!

It’s a shame about Morgan, but seriously, how do you rack up $1 million to $10 million in liabilities? Did she spend all of her money on a solid gold house and a rocket car? Oh well, at least her country music career will get a shot in the arm. All of those songs are about depressing life stories!

Topics: Snarkasm | 4 Comments »

4 Responses to “Lorrie Morgan Lands On “Bankrupt””

  1. Ky Person Says:
    October 26th, 2008 at 7:58 am

    I may be a Ky Person, but my mama was from Tennessee and I am not surprised that the press is geographically illiterate.

    Lebanon is not a suburb of Nashville. It’s a separate city entirely. It’s in Wilson county and Nashville is in Davidson county. They are sort of connected by urban sprawl, but that’s as far as it goes.

    Lorrie Morgan was quite a name back in the late 80s and early 90s. She used to date Fred Thompson too and I think she’s been married and divorced about 5 times. County music has moved on the latest flavor of the month, and Lorrie hasn’t had a hit for years. She’s evidently run into some hard times, bless her heart.

  2. RT Says:
    October 26th, 2008 at 9:16 am

    KY is right. Lebanon is about 1/2 hour north of Nashville, connected by I-40.

    I saw her at the Opry over the summer and she mentioned that she had just recorded two CD’s. One of cover tunes the other of originals (think she mentioned a Christmas one somewhere in there, but could be wrong, so I’ll keep it at two).

    Heard any publicity for them? She tours on a limited basis, but you know she can’t be making enough money to cover those recording costs. It is an expensive deal.

    Those are some steep debts. Property taxes are very low there, so it isn’t like she lives in Jersey. She might have had some bad investments and too many ex-husbands. Hmmm…sounds like the workings for a song.

    Being successful in an artistic field doesn’t mean business sense, common sense, and smarts reign.

    While I was watching her perform, I kind of was hoping she’d do well with those CD releases. She’s had a tough go of things.

    She might need to see her career with some better vision, though.

  3. Wyatt Earp Says:
    October 26th, 2008 at 1:28 pm

    Ky person – Maybe she can hit up Fred for a loan?

    RT – I think she should hire me as her new manager. I’ll be her “Colonel Wyatt.”

  4. TrekMedic251 Says:
    October 27th, 2008 at 8:13 pm

    Lorrie Morgan. Naked. Back in the day that would’ve been worth a mill or two!