Serepisos says global crisis strains business

Property developer and star of the television show The Apprentice, Terry Serepisos, has admitted the global financial crisis has put a strain on his companies' cashflows.

Mr Serepisos told the Dominion Post he was "a little disheartened" that a small number of people were "taking potshots" after the millions he had poured into promoting Wellington, bankrolling the Wellington Phoenix football team and charitable work.

The newspaper reported Mr Serepisos was being pursued by several sub contractors seeking more than $200,000 for work on his Century City Hotel in Wellington's central business district, but Mr Serepisos said some of the bills were being disputed because of poor workmanship.

Mr Serepisos said he was owed millions which also put a strain on cashflow.

"It is a domino effect right across the board. If he can't pay you, you can't pay him, that sort of thing."