Thu, 05 Jul 2012 | ADMINISTRATION
Pele Productions has entered administration due to its mounting debts and struggles to turn a profit.
It is now in the position where it owes over £150,000 to its creditors, according to documents filed at Companies House. The pantomime production group cited its move into musicals and bad weather as major contributors to its financial problems as its turnover was reduced “substantially” by its decision to programme musicals rather than pantomimes over the 2009 Christmas period.
The administrator's report, as seen by The Stage, noted: “In an effort to increase turnover and profit, the company decided to branch out into musical theatre and gain work throughout the year rather than just the Christmas season and it presented A Chorus Line. Unfortunately this made losses of around £40,000 at the box office, putting the company under severe pressure.
“Another musical for the Lowry, Peter Pan in 2010, would have stabilised the company. Although the show did well it did not achieve its full potential due to extreme bad weather at that time.”
The administrators have stopped trading at Pele Productions. They will now need to decide what to do about the company's debts, which include £27,000 owed in VAT to HM Revenue & Customs, almost £20,000 to Swash and around £44,000 to publisher Samuel French.
This opportunity centres around an established UK-based company with a diverse portfolio of heritage brands, catering to both specialist institutional customers and broader consumer markets.
This is a unique opportunity to invest in a well-established UK business poised for expansion into the $20bn US portrait photography market with its high margin, digital data subscription model.
Nestled in a picturesque village on the North Wales/Shropshire border, this charming 16th-century inn offers a unique blend of history and modern luxury, featuring en-suite letting rooms, a spa, and a vibrant restaurant.
FREEHOLD
Looking for more businesses? Try our off-market tool.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.