Gazza's best mate Jimmy 'Five Bellies' Gardner has been declared bankrupt.

The heavyweight dad-of-two owed thousands to multinational building and plumbing company Wolseley.

Jimmy, of Dunston, Gateshead, had run up a debt of £5,543 to a building supply shop owned by the company.

He was made bankrupt by a Judge at Newcastle County Court, who told him his debt of to the firm would be written off after one year.

After the hearing the furious 39-year-old threatened reporters, yelling: "I know your faces, and I'll be back for you."

Building giant Wolseley lodged court papers last year to recover the debt.

The company instructed North Yorkshire based solicitors LCL to file a bankruptcy petition at Newcastle County Court.

But Gardner denied all knowledge of the proceedings against him.

Wolseley owns the Build Centre, a kitchenware, ironmongery, and garden equipment supplier which has branches across the North East.

It is understood the debts claimed by the company related to a Build Centre store on Woodbine Road, Sunderland.

At Newcastle County Court, Garner's solicitor Mr Murray said: "This debt relates to a failed business venture which my client entered into with a partner. The debt is £5,543.

"He has made an offer of a monthly payment of £100 which has been rejected by the petitioner.

"Mr Gardner reluctantly accepts that he cannot contest the bankruptcy."

Imposing the bankruptcy order, Judge Bullock told the Geordie: "You will have to go and see the official receiver.

"The main consequence is you will be an undischarged bankrupt for a year.

"After that year your debts will be written off. But the official receiver may want you to make some debt payments to your creditor."

High-roller Jimmy has been Gazza's best mate since they were at primary school together and has been with the fallen star through all of his ups and downs since then - accompanying the midfielder to Lazio where he lived.

He also lived with the star in his Middlesbrough playing days in the imposing Greystones Manor mansion house in Seaham, County Durham.

He features heavily in Gazza's autobiography, which came out last year.

He even spent three months in China with Gascoigne in 2003 during an ill-fated spell with club side Gansu Tianma.

And after Gazza was involved in a car crash last year, he spent time living at Five Bellies' Dunston home.

A spokesman for Wolseley said: "Due to the nature of our business we cannot comment on any matters involving our clients."

A manager at the Build Centre in Sunderland said they could not talk about the matter. The Wolseley Group is the world's number one distributor of heating and plumbing products and is a leading supplier of building materials to the professional market.