You're only as good as your last album.

I don't think about success to be famous, because I've done that at the highest level, but it's all about my children.

Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.

I have three children to take care; I have a wife. My job is to take care of them, and I can say it's a pretty cool job to have.

I put all my eggs in one basket and invested in property. I didn't do anything internationally - it was all in Ireland.

I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion. I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself.

I love Ireland. I'll always be 100pc Irish. I get really excited when I go to Sligo; it's my home.