Donald Trump, once a living symbol of luxury and high living, now finds his image under increasing strain after the bankruptcy filing of Trump Resorts Entertainment Inc.

The real estate magnate has earned millions by licensing his name as a brand which came to stand for financial success and conspicuous luxury. Donald Trump not only lent his name to skyscrapers, neckties and bottled water but even to real estate projects over which he had little direct control.

Trump’s high profile tycoon image acquired even wider currency after he launched his reality television series, “The Apprentice” where he judged contestants aspiring to his kind of commercial success and lavish living.

However a recent spate of financial reversals has significantly tarnished Trumps’ golden image. While Deutsche Bank Trust Co Americas is suing him for $40 million for defaulting on a loan guarantee, in Dubai work has been suspended on the Trump International Tower and Hotel.

Likewise builders in Florida have decided not to go ahead with a Trump-branded project even after he was paid $2.84 million with half the net sales for lending his name to the project. Brand experts also believe that the Trump’s variety of in-your-face luxury is both imprudent and out-of-style in these current times of recession.