JfL owner owes nearly $22.5 million
Court documents show that the company that runs Just for Laughs owes nearly $22.5 million.
Adding later: Taylor C. Noakes on why he thinks the bankruptcy of JfL makes no sense. Where did all that public money go?
Also: Artists who were under contract to JfL when it collapsed may never be paid.
Nicholas 12:05 on 2024-03-08 Permalink
It would be nice if the article mentioned how much the assets are worth, so we can know if they’re slightly or very underwater. Obviously the brand, which is intangible, is worth something, but still. And if they’re very underwater, the Bell+Evenko/Geoff Molson ownership stake is likely to be mostly wiped out, and National Bank will take over, though I’d expect either a cash infusion or the bank to sell it back to the ownership team, as a bank doesn’t want to run something like this.
Ephraim 14:25 on 2024-03-08 Permalink
I mean, just the TV rights must have a value, plus the “gags” reels. And what buildings do they own? Lease?