Piranha Studios Ltd in Administration

For those of you who know me well, will know that I collect Bad Taste Bears (just see the section of my website to get a rough idea how much). However yesterday the news was broken that Piranha Studios Ltd who own the Bad Taste Bears brand has gone into administration. However not all is lost:

Statement from www.badtastebears.com:

Bad Taste Bears would like to take this opportunity to thank you for your dedicated loyalty and support. Unfortunately, it is with great reluctance that as of today we have had to place Piranha Studios Ltd in administration.

We are working together with the Administrators in an effort to ensure the continuation of the Bad Taste Bears brand and all that it stands for.

We hope the transition will be both brief and smooth and assure you of our dedication in helping to bring you even more of the Bad Taste Bears in the future.

We will provide an update as to progress by 25th March 2008.

Heroes and Villains Event
The money paid for Heroes and Villains Event Tickets and Figurines has been stored in escrow and will not be released to the event holder unless the event goes ahead as planned.

Bear of the Month Direct Debits
No further payments will be taken from subscribers of the Bear of the Month or Membership Direct Debit Schemes

Updated information confirmed and provided from www.thebearsnuts.com:

We’ve been asked to make a few tweaks to the information we’ve been sharing with you. This ensures integrity for all concerned and legal compliance with administration process.

As of now, the statement needs to read:

• There is every intention for the Heroes and Villains event to go ahead. The money paid for Heroes and Villains tickets is safely stored in escrow.
• In the extremely unlikely circumstance that Heroes and Villains does not go ahead, your money will be returned.
• There will be no further Direct Debit requests made to members of the Bear of the Month Scheme.
• Bad Taste Bears will continue as a brand in the near future.

As of now, this supersedes any information posted elsewhere on www.thebearsnuts.com, on this forum, or on other forums that are using TBN as a source of information.

Further updates shall be provided on the The Bears Nuts forum accordingly.