The 26-year-old is said to have failed a test for cocaine at the beginning of the month, and things have gone from bad to worse.
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He’s now allegedly been banned from profitable night club appearances and was axed from the line-up of a new ITV show.
A source told The Sun: “Arg makes most of his money from personal appearances at nightclubs and events but that’s dried up recently.
“He’s had to rent out his spare room and is considering selling his flat if things carry on like this.
“A typical PA fee for him would be £3,000, so he’s desperate to start earning again.”
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Arg sparked fears when friends thought he’d gone missing in August - but it turned out he had just gone to the wrong airport.
Those close to him believe he never got over his split from Lydia Bright, 24, and desperately wants to make it work with her.
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A friend previously told the Mirror: “Arg is head over heels in love. He desperately wants Lydia back. He finds it difficult to deal with and often wants to be alone.”
After he ‘failed the drugs test’ there were worries he would be permanently axed from TOWIE.
A show source at the time said: “He would be a loss to us, but at the end of the day no one is bigger than the show.”