A former Wells Rotarian who attempted to suffocate his wife to death left a trail of problems in the tiny Channel Island of Alderney after running a business there for several years.

Peter Nunn, 63, who pleaded guilty to the attempted murder of Joan Nunn, 80, at Bristol Crown Court last Monday, ran an insurance company in St Anne, the island's capital, for around six years from 1989.

Nunn attempted to kill his wife, known as Margaret, at their home in Wookey by smothering her with a pillow. However, Mrs Nunn struggled free during the murder attempt, which occurred on May 27 last year. A few hours later Nunn phoned his GP to say he had tried to kill his wife.

When he fled Alderney following a failed suicide attempt, Nunn had run Ingham International into the ground and owed thousands in unpaid tax. He had also run up various other debts with islanders and businesses.

One of Nunn's former employees, a 43-year-old woman who does not wish to be identified, said he was cowardly and too frightened to admit his mistakes.

Another ex-employee, a 53-year-old woman who also wishes to remain anonymous, said Nunn's efforts to kill his wife of 33 years – a former model who starred in Britain's first TV advert in 1955 – were a sad reflection on "past lies and false beliefs".

The 43-year-old ex-employee, who worked for Nunn for about a year, said: "Initially he was a breath of fresh air. I was pleased he'd taken over as I wasn't keen on the previous boss. However, it was my job to balance the books and it soon became an impossible task. I would go to pay something and there would be cheques missing from the book with no explanation as to where they were."

The 53-year-old ex-employee said: "The business soon fell into financial difficulty after Peter took over. We went from employing four people to just one – me."

She went on to say Nunn couldn't afford his lifestyle.

"It was obvious he was living beyond his means and unable to face the difficulties and financial problems he was left with."

According to the 43-year-old, Nunn was not willing to admit his business had failed.

"When the business was in trouble he just couldn't put his hands up – he was too cowardly. I think he was frightened of losing his wife and didn't want her to see him as a failure.

"I had worked for the company from the age of 17. I started with the original owner, Leo Ingham, who sold the business to Aubrey Orthner, who in turn sold it to Peter Nunn.

"I had helped Leo build the company up from a part-time business to a thriving full-time company. This is why it was impossible for me to watch the company fall apart."

The 53-year-old said: "He and his wife left the island under a cloud, owing money to local authorities and businesses alike. Their personal possessions were arrested and sold to pay back some of what was owed."

She went on to say she wasn't surprised to hear about his plans to suffocate his wife with a pillow before killing himself. "What's happened is horrific and is a sad reflection on past lies and false beliefs."

After taking over Ingham International in July 1989, Nunn told island newspaper the Alderney Journal he had worked in the finance industry for 20 years and was formerly a director of Hogg Robinson Financial Services. Nunn also claimed to be a regular writer and broadcaster on insurance related subjects.

Another islander remembers the night Nunn attempted suicide. "I remember him getting into financial difficulty. He left after bouncing cheques all over the island. There was one night when he went missing. Everyone was worried about him and thought he had done himself in. He was eventually found in a very distraught and dishevelled manner in the St Vignalis Gardens."

A former pub landlord said Nunn, who was president of Alderney Rotary Club in 1992, was an upstanding member of the community.

"He was a very pleasant, very affable person. He was very much part of society in the island. It all came as a bit of a shock when he suddenly disappeared. He was tracked by someone; someone who he owed quite a bit of money to. I believe he went to Harrogate and was part of Rotary there. I think he was employed by them in some capacity."

Court records from the 1990s show Nunn left the island owing more than £4,500 in tax and social security and an extra £2,000 to a creditor.