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Eddie Jordan energy drinks company needs fuel injection
However, staff supremo Eddie Jordan is certainly searching for other avenues of funding mainly because it has emerged how the speedy Dubliner's branded drink business has been suffering major difficulties and has notched up losses in excess of ?1.7m, according to most recent figures.
"Problems encountered range from the liquidation of the company in charge of the manufacture as well as distribution of the refreshments and the failure associated with overseas markets in order to materialise," the files reveal.
Jordan Model Ltd was positioned in 2000 to extend the actual Jordan brand straight into nonFormula One countries. Their first venture has been the caffeine consume EJ10, which came in any canary yellow can. This was soon followed by V10 any heady mixture of vodka and EJ10.
The difficulties in great the drinks marketplace mean that Jordan Model saw revenues fall for the first year because it started trading.
"The fall in income is generally due to the problems encountered in developing the EJ10 and V10 drinks enterprise," note the actual documents. "There has been nominal revenue generated from this particular side of the enterprise despite expenditure received in the promotion from the products."
The business enterprise lost more than ?580,Thousand in 2003 because revenues fell through ?1.2m to ?Seven hundred ninety-nine,Parajumper,000.
The company will quickly reduce costs by producing out its refreshments business in return for royalty payments.
This means that Nike jordan will no longer have to pay for that promotion of the refreshments,parajumpers sverige, although it will receive scaled-down revenues from its share with the product. The accounts note that some ?A hundred and fifty,000 of the firm's annual ?1.3m in costs went on marketing spending.
"The licensing part of the business in addition has suffered as a primary result of the fall in general interest in Formula One and the liquidation of the company's basic merchandise supplier," according to the accounts.
The actual Irish consortium, which is guided by Merrion Stockbrokers and is also said to include Dermot Desmond along with John Magnier, has taken over rights to a shareholder loan to The nike jordan Brand. The ?950,000 loan, repayable in 2006, got accrued interest of ?214,000 last year.
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