Londonlaunch on new, slimmed down trajectory
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Responding to reports that Londonlaunch Ltd had been put into voluntary liquidation last year with debts of £1.2m, director Will Broome tells conference-news the move was part of “a restructuring of a very complicated group structure which was all done by the book and it all took place over a year ago, without any adverse effect. There were absolutely no trade creditors and not a single person was disadvantaged in any way”.
Broome did not deny that the biggest creditor to the venue website operation had been Barclays Bank, which was owed £516,000. A family investor reportedly had lost £293,000.
The bank and IR were dealt with separately, says Broome: “Payments have been and are being made on this front by agreement. I would never have embarked upon such an exercise without making sure it was all fair and after open discussion with all involved”.
Broome adds the remaining company and its three brands, including event organiser arm, Londonlaunch Live, had been “slimmed down to a sensible and workable level as we operate entirely within our means and do not have any aged creditors”.
Despite the difficulties of the liquidation last year, Broome expects his new show, Londonlaunch:live, scheduled to run at the Saatchi Gallery 20-21 October, will be a success, and is aiming for 100 exhibitors and 1,500 visitors.
Broome also claims the Londonlaunch.com website is “going from strength to strength” and being used by 80,000 event industry professionals every month.
2 Sept 10
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