Premier League clubs lose out as program publisher goes bust
Tue 3rd May 2011 | Money & Finance
The company that makes programs for some of the UK’s largest football clubs has entered liquidation.
Cre8 Publishing was put into liquidation earlier this month, leaving football and rugby clubs among its unsecured creditors owed more than £2m.
Amongst those that lose out are Arsenal who are said to be owed £270,000 by the publisher.
Other football clubs owed monies are Celtic with £400,000, Rangers at close to £500,000, West Ham United with £103,000 and Tottenham at £42,000.
Aberdeen and Oldham Athletic football clubs are owed smaller amounts, while The Welsh Rugby Union has £120,000 outstanding.
Cre8 UK was set up in 2003 by Lee Power, an ex-professional footballer, and business partner Daniel Lake although Power resigned as a director shortly after the company’s launch.
Celtic fans were urged in November last year to apply to Cre8 for subscription refunds when the club cancelled its contract with the publisher due to allegedly unpaid royalties. Rangers likewise cancelled its contract telling fans to “cancel any direct debit payment with immediate effect”.
According to legal documents filed with the high court, Cre8 Publishing has also been hit with suits from fellow publishing groups, Benham Goodhead and Stones the Printers. The details of those legal actions remain unclear.
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