A London company that traded as a magazine publisher for men’s magazines was ordered by the High Court into liquidation, according to the Insolvency Service, on the grounds of public interest.
The order follows an investigation by Company Investigations that discovered that Sixty-Sixty Four Limited was trading as ‘Upstreet’ and operated without proper commercial probity when producing two lifestyle and fashion magazines. It also found that it owed money to at least eight freelance journalists and employees from as far back as 2008.
Chris Mayhew, Company Investigations Supervisor, stated that evidence from the investigation showed that there was a third company that the directors used as a shield so that they would not have to deal with liabilities that occurred from publishing.
Mayhew added that that the publishing business was operated without regard for its photographers, staff contributors, and journalists many of which were never paid.
Former editor of ‘Palladium,’ Gavin Knight, was able to win a judgment against the company in February 2009 at the Brentford County Court for £3,985.
In response the company filed a counterclaim for £60,000 requesting that the claim be adjourned but offered no presenting evidence.
Knight said after the High Court case that it is excellent that justice has been served for the many journalists that wrote articles for the magazines but never received funds. He continued to say that it is hard enough to carve out a salary as a freelance journalist without having to turn to the courts in order to get payment.
The company’s first magazine, ‘UPstreet,’ was published in English and French and by two earlier companies at which it kept failing to secure reasonable subscription levels.
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