Newly reformed boy band Blue’s music company has been forced to go into administration.

Blueworld LTD which is owned by the group is reported to owe thousands to various creditors despite the fact the band are currently in the middle of a sold- out European tour, and the fact that there has been no previous inclination that there may have been something awry.

A source spoke to The Sun to say: "There was no warning that the band had money problems. This has come as a complete shock.

"Letters have been sent out by the administrators to creditors who are owed substantial sums by the band.

"No-one knows if they will get back the full amounts they are owed or if it will be much less."

Among areas run by the company are the band’s official website and their fan club which means many members, some of which have paid up to £45 to join the club, will be left out of pocket with little chance of a refund.

A spokesperson representing the band said: "Blue have been open about their recent financial struggles and are restructuring their business model.

"A new tour starts in October and we have already had to add new dates."