Really bad news for LazyTown
This was posted on maggiedaily by wardenburgtaty. I'm shocked and sad, let's hope everything turns all right.
IT'S... POORTACUS
KIDS' favourite LazyTown is facing financial meltdown - with its Icelandic bosses owing £15MILLION.
The crisis could see the BBC children's show, featuring fitness-mad character Sportacus, axed.
Bondholders are taking legal action to retrieve the vast sum, which may lead to the bankruptcy of LazyTown Entertainment.
The TV series was a surprise hit when it launched in 2004 and is now screened in 100 countries. It encourages kids to eat well and do more exercise.
A case over the debts is due in court in Iceland next month.
Executives at LazyTown - including gymnastics champ Magnus Scheving, who stars as Sportacus - have held crisis talks to save the company.
Mr Scheving, 45, insisted most bondholders had agreed to loans being repaid in "the next few years".
Source: http://www.thesun.co.uk/sol/homepage/news/2759187/BBC-childrens-show-featuring-Sportacus-is-axed.html
And this is what LazyTown has to say about it:
LazyTown Clarifies Financial Position
Firm sets record straight after Sun story, saying agreement reached in principle with bond holders.
LazyTown has moved to set the record straight following stories in The Sun and an Icelandic business weekly at the weekend saying that it was facing 'financial meltdown'.
LazyTown has said that it has already reached an agreement in principle with the bond holders and all details should be resolved before year-end.
The Sun's story stated that the Icelandic bosses of LazyTown owed £15 million - following the collapse of the Icelandic banks - and bond holders were taking legal action to retrieve the sum.
However, LazyTown's statement said: "The LazyTown brand is strong and is generating income that fully covers the daily operations of the business today. LazyTown reaches 500 million homes in 128 countries and research shows that it is well known among children the world over.
"We have a lot of positive news in the LazyTown business. The income is generated from over 7,000 skus. Our structure has been simplified and operational results are improving contrary to what is happening in the industry in general during this economic downturn."
Source: http://www.licensing.biz/news/4394/LazyTown-clarifies-financial-position (thanks to enganchada for the link.
I really hope that The Sun is exaggerating, as usual, and that LazyTown is not in danger.
IT'S... POORTACUS
KIDS' favourite LazyTown is facing financial meltdown - with its Icelandic bosses owing £15MILLION.
The crisis could see the BBC children's show, featuring fitness-mad character Sportacus, axed.
Bondholders are taking legal action to retrieve the vast sum, which may lead to the bankruptcy of LazyTown Entertainment.
The TV series was a surprise hit when it launched in 2004 and is now screened in 100 countries. It encourages kids to eat well and do more exercise.
A case over the debts is due in court in Iceland next month.
Executives at LazyTown - including gymnastics champ Magnus Scheving, who stars as Sportacus - have held crisis talks to save the company.
Mr Scheving, 45, insisted most bondholders had agreed to loans being repaid in "the next few years".
Source: http://www.thesun.co.uk/sol/homepage/news/2759187/BBC-childrens-show-featuring-Sportacus-is-axed.html
And this is what LazyTown has to say about it:
LazyTown Clarifies Financial Position
Firm sets record straight after Sun story, saying agreement reached in principle with bond holders.
LazyTown has moved to set the record straight following stories in The Sun and an Icelandic business weekly at the weekend saying that it was facing 'financial meltdown'.
LazyTown has said that it has already reached an agreement in principle with the bond holders and all details should be resolved before year-end.
The Sun's story stated that the Icelandic bosses of LazyTown owed £15 million - following the collapse of the Icelandic banks - and bond holders were taking legal action to retrieve the sum.
However, LazyTown's statement said: "The LazyTown brand is strong and is generating income that fully covers the daily operations of the business today. LazyTown reaches 500 million homes in 128 countries and research shows that it is well known among children the world over.
"We have a lot of positive news in the LazyTown business. The income is generated from over 7,000 skus. Our structure has been simplified and operational results are improving contrary to what is happening in the industry in general during this economic downturn."
Source: http://www.licensing.biz/news/4394/LazyTown-clarifies-financial-position (thanks to enganchada for the link.
I really hope that The Sun is exaggerating, as usual, and that LazyTown is not in danger.