With the recent news that the company who purchased the rights to the CBGB name is in financial trouble, the Wall Street Journal brings us a little more...the story is inching along and things don't look good for the buyers. The Kristal Estate seems to have the upper hand in the favorable PR department at the moment. What a shame that these folks can't get their act together. I find it very difficult to believe that anyone could purchase a brand name like CBGB, and NOT be able to do something...anything...with it.
CBGB founder Hilly Kristal’s estate is blasting the company that purchased the defunct punk rock club’s assets two years ago, accusing it of letting the shuttered club’s famous memorabilia waste away in storage trailers and of failing to protect its lucrative trademarks.
In a filing that fleshes out the bare-bones bankruptcy petition that CBGB Holdings filed on June 11, Kristal’s estate urges the Manhattan bankruptcy court to dismiss CBGB Holdings LLC’s Chapter 11 proceeding, saying it’s “inconceivable” that the buyer of the club’s assets could ever reorganize. Continued here.
3 comments:
I find it very difficult to believe that anyone could purchase a brand name like CBGB, and NOT be able to do something...anything...with it.
Agreed, but HILLY couldn't do anything with it. He was a profoundly poor businessman. I know I don't have to list the failed business ventures.
I am glad that the estate is finally getting good advice and pursuing it.
Lets hope so...hell, I'd take a shot at making something happen.
wow! im speechless
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