Katie Price shows off dramatic hair transformation after being declared bankrupt

Katie Price has given herself a new look just days after she was declared bankrupt after failing to repay the £12,000 a month she'd agreed as part of her individual voluntary arrangement.

The IVA was set to clear off some of the 41-year-old's debts within four years.

Now, as it's reported the former glamour model could lose her mansion, worth an estimated £2million, Katie has wowed fans with a new look.

Ditching her long brunette locks, the mum-of-five showed off a shorter hairdo in a much lighter colour.

The new hairstyle also featured a feather fringe that fell just above Katie's eyes.

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Katie shared the snap with her 2.1million Instagram followers on her stories, which also featured a series of ads for her children's clothing line.

It's been a busy week for Katie, who was declared bankrupt at a court in London on Tuesday.

Her total repayments were estimated to be £250,000 however Katie was failing to pay back her monthly IVA.

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Judge Jonathan Middleton, sitting at a specialist insolvency and companies court, said: "I do judge Ms Price to be bankrupt."

Katie and her lawyer did not attend the hearing at the Insolvency and Companies Court.

The former I'm A Celeb star was once worth an estimated £45million after a successful modelling career, plenty of books and a few clothing lines.

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Now, her assets will be released and distributed and may be sold on by a trustee, with the funds repaying creditors.

Just one day after being declared bankrupt, on Wednesday, Katie was reported to have split up with boyfriend Kris Boyson, 31 – again – after recently reuniting.

A source told The Sun: "Normally Katie's relationships end in a huge row, but with Kris it's different.

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"They'll still stay friends and she will still need his help with the kids, and to stay at his house.

"He's really worried about her and all the pressure she's under – so that's why he's not walking away."

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