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1PW: Saved From Liquidation
by Devilish Angel on 18 January 2007 1:53 pm


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1PW PRESS RELEASE - 17/1/07

Where to start?

First off, this will not be the last time 1PW will communicate about this situation. There are obviously many questions that need answering, so we wanted to give assurance that every tiny detail of the whole situation will be brought out into the open for public discussion. Also, after this press goes out, we will open a thread on our board, where customers and fans will get the chance to ask any questions they may have.

If I miss anything in this release, please forgive me, as there is lots to get to.

Well lets go with the big news you have all been waiting for first -

1PW Promotions Limited, the company that promotes the 1PW Wrestling shows, has been saved from liquidation. The company has two separate investors. Those investors, together with the original 1PW management team of myself and my family, have come up with a financial package that both pays off the companies debts, and also enables the company to move forward in a progressive and powerful manner. I will retain Directorship of the promotion, but I will also now have two things in place… 1) People with a vested interest in seeing 1PW succeed that will lead the money management side of the company, and ensure that side of the company runs smoothly and effectively , and 2) a new team of staff and helpers that will work just as hard as anybody to make sure 1PW is a huge success. Whilst I will still be the Director of the company, there will be an entire army backing me up, and helping steer the ship.

No one knows more then I do, the mistakes I have made, and 1PW has been lucky enough to be granted a second chance, so we do not intend to repeat those mistakes.

I asked for advice on this matter, and was told that maybe I needed to come out and attach a “ front man “ to the project . Now the fans I care about is our “ 1PW Family “ of fans, and you guys all know myself and my family, so I didn’t really see the point of that, as you would see right through it. 1PW is YOU , and its US, so why pretend otherwise.

1PW now has the funds in place to as I said, pay off the debts of the company. All companies that are owed money by 1PW Promotions Limited have been contacted, and have either been already paid at this juncture, or have made agreements to be paid shortly. The details of the debts and companies owed will be released at a later date.

In addition to this, 1PW has attracted a further potential investor. Myself and Rosie are meeting this investor Monday, and I hope to have an update for you all then. If this investment is agreed, 1PW will enter into a business relationship that will change the face of European Pro Wreslting.


FANS WITH ALL OR NOTHING TICKETS - THE RESURRECTION

The other huge piece of news is that 1PW has renewed its exclusive agreement with the Doncaster Dome, an arena 1PW and its fans have made famous as the Mecca for Pro Wrestling in the UK. This agreement means the only wrestling action you will see at the home of 1PW is 1PW itself. The March 31st All or Nothing show was cancelled when 1PW ceased trading, and the date was given to a corporate event. We are very pleased to announce to you all the single most important show in 1PW’s life / death / and re-birth --- Friday April 6th 2007 - THE RESURRECTION - will take place LIVE from the Doncaster Dome.

Fans who purchased All or Nothing tickets; those tickets have yet to be printed and sent out, so we will offer fans the chance to use those tickets for Resurrection. ( for any AON ticket holder for whom that date is not convenient, a full refund will be offered ) Tickets will be printed up next week, and will be shipped out late next week.

Full details for Resurrection , including how to purchase tickets, ticket sale date, and details of the new 1PW Online Store, will be made available tomorrow night at 9pm

We have already spoken to the majority of fans who needed refunds for Jan 27th or NTB, and those are in the process of being dealt with.


FURTHER INFO

We will publish a full and frank account of the entire financial status, including what was owed to whom, what was due in, the entire cash flow of the company , that lead to the situation. This report is being prepared with the assistance of our solicitor, and thus is not ready to publish yet. As soon as it is I will readily publish it.

There is also a huge story to be told with regards to the 1PW / 3CW relationship . Again, a document is being prepared that will catalogue the entire sequence of events, but is not ready yet. As soon as it is, given the go ahead it will be released.

We became aware of potential investors prior to the morning of Saturday Jan 13th, and although the situation at that point was very much a variable, and very much a might, we thought I best to inform the organisers of the WND show, and other key people in UK wrestling, that this was a potential outcome. At that point is could have gone either way, and it was actually one of the investors attending WND that made up their minds, after they saw the genuine outpouring of support and love for the company.

1PW stated yesterday that we will pay any wrestlers fee’s that worked the WND event for 3CW for free. We have already contacted or are about to contact, all the wrestlers on the show, to come to individual terms with each performer. Those guys deserve that, as they were all willing to work for free to give you fans a show.

We have stated that we want this entire situation to be completely transparent, and to allow our fans to make their own minds up, and that is the case here.

Source: Talk Wrestling Online UK Scene Forum



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