Niziol, who founded Independent Mortgage Solutions (IMS) in 2005, was appointed project manager of the all-female team Nebula.
The task that brought her demise involved the team sourcing profitable collectibles and making as many sales as possible.
However, the team only managed a total of £959 in sales, compared to the other team’s tally of £1,428.
Sir Alan Sugar held the broker accountable for the team’s poor performance, despite incorrect pricing of items from fellow team member Alana Spencer.
Sugar told Niziol: “Michelle, you claim to be a business woman and I do see you as responsible for not laying down the rules to your team.
“It’s very easy for the finger to be pointed at you as the project manager. But having said that, I do think that there’s a lot of stuff you are responsible for… Michelle, you’re fired.”
IMS is based in Bicester and covers Oxfordshire, Buckinghamshire and Northamptonshire, offering borrowers mortgage advice as well as having a property management company and estate agency branch.
