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Beate Uhse continues after receiving loan


Link Here 11th January 2018
beate uhse logoBeate Uhse AG, the troubled German sex shop chain, has received a 2.7 million euro loan from financial investment firm Robus Capital to help keep the company afloat.

The cash infusion gives the management  room for maneuver in order to further promote the reorganization, Beate Uhse told German regulators.

Beate Uhse's application for insolvency, which is equivalent to Chapter 11 in the U.S., allows for a plan of reorganization to keep the business running and pay creditors over time under jurisdiction of the court system.

 

  Stripped out...

Toronto's strip club scene is giving way to condo developments


Link Here 5th January 2018
zanzibar tavernToronto once had more than 60 bars with nude dancers, only a dozen remain, the rest have been replaced by condominiums, restaurants, and housewares stores.

Demand for homes downtown and for the retailers that serve them is driving land prices to records, tempting owners of the clubs, most of which are family-run, to sell at a time when business is slowing. It's a similar story in other North American cities, where the demand for exotic dancers is cooling amid the rise of free porn and live video chats on the internet.

The latest example in Toronto is Remington's Men of Steel, a male dance club behind a heavy door, which is closing this year, to be replaced by a 98-story condo.

In Toronto, massage parlours have proliferated elsewhere in the city, while arduous rezoning regulations and a rule restricting new strip-club licenses mean that once a joint shutters its doors, it isn't likely to be replaced.

The fading of the strip-club era can be seen in a five-block area along Yonge Street. It was once dubbed Sin Strip for its neon-clad bars, sex shops, and movie theatres. Today, there are about 20 development applications for condos and commercial buildings on the stretch.

I don't think we'll be around in 10 years' time, according to Bill Greer, general manager and three-decade veteran of the Brass Rail Tavern.

 

  Bank censorship...

Australian banks and financial services have been ticked off by the small business ombudsman for discriminating against legitimate adult businesses


Link Here 4th January 2018

asbfeo logoAustralia's Small Business Ombudsman Kate Carnell has gone into bat for Australia's sex industry, slamming the banks for discriminating against legal businesses by withdrawing or failing to provide financial services. Carnell said in a statement:

It's hypocritical that banks do not provide services to the adult industry when businesses are appropriately registered and regulated. Access to banking services is essential for a legitimate business to operate.

Carnell was responding to a recent report by the Eros Association, which found the vast majority of adult industry businesses experienced unfair treatment by financial service providers .

The association estimates there are more than 1000 adults-only businesses in Australia employing around 25,000 people, with the overall industry turning over $2.6 billion annually.

One respondent quoted in the report, the operator of an adult retail and wholesale business, said their merchant facilities were withdrawn after more than 20 years with the same bank.

 



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