Noel needs a banker over his £3m debts

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The TV presenter admitted he is suffering "severe financial pain" after his Unique Group went into receivership.

The 58-year-old, who recently made one of the biggest entertainment comebacks with his Channel 4 show, is in a dispute with his bankers over a helicopter that he bought several years ago.

And although details of the collapse of Unique Group - an independent radio production firm - remain murky, it is known that due to a complex arrangement with the bank, Edmonds will suffer personally from it. But the repayment will not ruin Edmonds who is rumoured to be worth £ 75million and signed a £3million extension to his contract with Channel 4 for Deal Or No Deal.

His fortune also includes an estate in Devon, a house in the south of France and a number of helicopters.

Edmonds said today he would not go bankrupt but admitted: "I am going to go through severe financial pain but it is a matter of principle for me." His agent Mark Borkowski added: "There are some things he may have to liquidate. It continues to be messy." He said Edmonds's re-appearance on TV prompted bankers to pursue him for old debts. Receivers appointed to handle Unique Group began hunting for assets to offload. It is thought Edmonds still owed money on the helicopter, bought as part of an earlier failed business.

Unique Group started in 1985. Edmonds resigned as non-executive director in 2006 but was still chairman.