Clone Zone bosses upset at Pink Paper headlines.
9 Feb 2009
Director says that report is "not accurate".
Clone Zone bosses are upset with the front page of the current edition of The Pink Paper, which features a story, "Clone Zone's Bust is Boom for Bosses!" The story suggests that the Directors of Clone Zone will continue business as usual, while their former employees and creditors suffer as a result of the chain going into administration.
The Pink Paper report reveals that Clone Zone Director David Edwards and former Clone Zone Director Michael McCann, set up a new company called Clone Zone UK Ltd, and that both men were listed as the directors of Libertybelle UK (which according to the paper has now bought Clone Zone) on December 24th 2008, before Clone Zone filed for administration.
However, Edwards has hit back at the report, claiming that it is not accurate. "It is true that we have set up a new company, but much of the report is hearsay. Nobody would have got a penny if we hadn't done it this way, this way they have."
The Pink Paper is owned by the Millivres Prowler Group, who are also one of the adult industry's leading gay brands.
Five Clone Zone shops have been taken over by the Nice 'n' Naughty adult chain. Simon Prescott, Director of Nice 'n' Naughty, has reassured local LGB&T communities that there will be no major changes to the store: 'We have every intention to pick up where Clonezone left off."
A former manager for Clone Zone, Phillip Price, is to take over the reins at the five new Nice 'n' Naughty stores. Price has over 7 years' experience within the gay retail market plus 3 years with Nice 'n' Naughty.
Clone Zone opened in Manchester in 1984, and has become a cornerstone of the city's gay community.
To read the full Pink Paper article, click here.
Clone Zone are set to release an official statement in relation to the story.
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Pre-packed administrations are becoming increasingly popular, but in my opinion are an absolute con and rip creditors off here to the tune of £500 000. Essentially here the 2 directors, who got the company into the mess in the first place buy the profitable part of the business for a tiny amount, probably closer to £50 000 than £500 000, meaning that £450 000 of the unpaid debt goes unpaid - creditors forced to write it off whilst they start making profit again. Directors whose companies go into Administration should NEVER be allowed to be a director in a Company again... Clone Zone owe me money and I for one will NEVER buy a thing from the theives again.
Posted by Angry Ripped off Supplier, 11/02/2009 5:04pm (2 years ago)