Porn News

Peach Entertainment Network Creditors Have Feb. 8 Deadline for Filing Claims

VAN NUYS, Calif. — from www.xbiz.com – Peach Entertainment Network creditors have until the first week of February to file claims over the adult company’s assets, according to the U.S. Bankruptcy Court.

On Wednesday, the clerk of the court said that “sufficient assets may become available for distribution to creditors” and that creditors must file proofs of claim by Feb. 8 with the court.

Peach Entertainment on Tuesday disclosed it tapped Los Angeles attorney Nancy Hoffmeier Zamora as its Chapter 7 trustee.

Van Nuys, Calif.-based Peach, which filed for Chapter 7 in late September, operated Peach DVD, PeachDVD.com, Red Static, Late Night and Red Dragon Releasing.

Peach, according to the Chapter 7 filing, was seeing dwindling DVD sales, which amounted to only $290,000 this year, after banner years in 2007 and 2008, when Peach saw revenue climb to $2.4 million and $1.8 million, respectively.

In the Chapter 7 filing, Peach said that it was $1.8 million in debt and had $466,000 worth of assets, including video masters worth $114,000 and $203,000 of inventory.

Its largest creditor is CEO David James, who stated he lent the company more than $1.7 million in recent years.

Other creditors include Ingram Entertainment, L&M Optical Disc West, Orbitland Interactive and CAV Distribution Corp., among others.

The company was co-founded by Jim Monroe and James, who helped Steven Hirsch launch Vivid in 1984. Today, James continues as a Vivid co-CEO.

236 Views

Related Posts

Pineapple Support Appoints Kasey Kei as Brand Ambassador

LOS ANGELES — Pineapple Support has appointed veteran performer and content creator Kasey Kei as its latest brand ambassador. Kai joins 10 other ambassadors, including Finny Fox and Erika Love, in representing the organization. Kei, a rep noted, “will act as…

Girlfriends Releases ‘Women Seeking Women 196’

All-girl adult studio Girlfriends Films has released volume 196 of its flagship series "Women Seeking Women" via video-on-demand (VOD).

Sweet Sinner Releases ‘Infidelity 4’

A young wife journeys into temptation in "Infidelity 4," the newest feature from Mile High Media’s couples’ erotica banner Sweet Sinner

Brandon Wilde, Nick Sterling Topline ‘Hidden Secrets’ From Icon Male

MONTREAL — Brandon Wilde and Nick Sterling headline "Hidden Secrets," the latest release from Mile High Media studio banner Icon Male. The title also features Billy Santoro, Ian Levine, Jaxton Wheeler, Trent Ferris, Roman Todd and Michael DelRay. "Cover models…

BiPhoria Drops Jim Powers’ ‘Saying GoodBi’

MONTREAL — BiPhoria has released director Jim Powers' "Saying GoodBi." The title features Willow Ryder, Thalia Rea, Pierce Paris, Dillon Diaz, Cliff Jensen, Harley Haze, Jesse Stone, Roman Todd and Ashley Stones. "Like all of the snappy Biphoria titles this…

Leave a Reply

Your email address will not be published.