AEE Parent Files for Bankruptcy - GoFuckYourself.com - Adult Webmaster Forum

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Barefootsies

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#1

AEE Parent Files for Bankruptcy

10-22-2009, 02:14 PM

NEWTON, Mass. ? The parent company of the Adult Entertainment Expo filed for bankruptcy Oct. 5 in order to restructure its ballooning debt. In its Chapter 11 filing Questex listed assets of $299 million against liabilities of $321 million.

Questex acquired AEE when it purchased various divisions of Advanstar for $185 million in 2005, of which Home Entertainment Events ? managers of the show ? was a part of.

According to the company, January?s AEE show will take place as planned.

Questex said that it plans to sell the company to the holders of its debt. The B2B trade company is experiencing a ?severe contraction in liquidity? and is leaving its assets to existing lenders.

Questex finds itself in a deep hole after it went on a spending spree acquiring other B2B trade companies since its inception in 2005. It is carrying $186 million in first-lien debt and $56 million in second-lien debt. It also owes $18.5 million to the principals of previously acquired companies.

The company?s largest creditor is Wilmington Trust to which it owes $56.6 million in bank debt.

Company officials are projecting a 50 percent earnings drop this year.

A call seeking comment from AEE show director Deborah Brown went unreturned at post time.

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#2

10-22-2009, 02:42 PM

Ouch!!!!!!

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#3

10-22-2009, 03:01 PM

AEE, the Atlanta Forum............ Whos Next?

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#4

10-22-2009, 03:06 PM

The Atlanta forum didn't file bankruptcy. They dind't put on a show this year because the market couldn't bear it. Tony is a smart businessman. Rather than putting on a show with very little support/profit he cancelled it.

In think AEE filing for bankruptcy is just the beginning. I'm sure we will see another one coming soon after.

Sharky
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#5

10-22-2009, 03:13 PM

Originally posted by JustDaveXxx

Ouch!!!!!!

Yeah wow.

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#6

10-22-2009, 03:19 PM

Is my lip bleeding?

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#7

10-22-2009, 03:24 PM

Hey, who's going to Vegas for AEE?

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#8

10-22-2009, 03:26 PM

Originally posted by Sharky

The Atlanta forum didn't file bankruptcy. They dind't put on a show this year because the market couldn't bear it. Tony is a smart businessman. Rather than putting on a show with very little support/profit he cancelled it.

In think AEE filing for bankruptcy is just the beginning. I'm sure we will see another one coming soon after.

True dat

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#9

10-22-2009, 04:09 PM

Which show did AEE put on?
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#10

10-22-2009, 04:21 PM

Originally posted by datatank

Which show did AEE put on?

adult entertainment expo at the Sands, it is still going on !

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#11

10-22-2009, 04:26 PM

Originally posted by AmeliaG

Hey, who's going to Vegas for AEE?

I will be there along with Mrs FUBAR and Hone Lynn

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#12

10-22-2009, 04:29 PM

Wow - who's next indeed? Playboy? AVN? Hustler? Wow.

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#13

10-22-2009, 06:02 PM

If you look at AEE's website the show is still 33% unsold and its October... I wonder if it will be the last...

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#14

10-22-2009, 06:11 PM

not surprising

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#15

10-22-2009, 06:16 PM

Originally posted by spunky99

not surprising

no shit, any company that spent 185 million for advanstar and leaves them with the jewel in the crown- the MAGIC show, is asking for bankrupcy.

amazing that deal went through.
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#16

10-22-2009, 06:29 PM

Originally posted by JFK

adult entertainment expo at the Sands, it is still going on !

dont think I ever heard of it
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#17

10-22-2009, 10:01 PM

Originally posted by pornlaw

If you look at AEE's website the show is still 33% unsold and its October... I wonder if it will be the last...

I have been going to the January CES/AVN and later AEE show since 1992. I can't imagine the show completely ending even in this economy. Getting smaller, yes, but not completely ending in some form. Perhaps a combined AEE/Internext adult show in the future, just like they combined the magazines. Remember this story is not that AVN Magazine went bankrupt. That's not the case. The story above is that the parent company of the company of that purchased the organization that runs the show has liquidity problems and filed bankruptcy. I am pretty certain that both AEE & Internext will go off as planned in January, and maybe be combined and/or scaled back next year..
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#18

10-22-2009, 10:07 PM

damn! AEE is a great show, hopefully it continues to come back to Vegas

before we know it, the big tubes are going to be major sponsors at shows

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#19

10-22-2009, 10:51 PM

What??? AEE??

What do they do?

Make traffic? Produce sales?

THey must be a major traffic hub or something.....

Please, explain how they make money?????

Why would any big time traffic guy go to these shows?

Im glad to see the landscape changing but its also scary at the same time.

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#20

10-22-2009, 11:51 PM

Originally posted by Jim_Gunn

I have been going to the January CES/AVN and later AEE show since 1992. I can't imagine the show completely ending even in this economy. Getting smaller, yes, but not completely ending in some form. Perhaps a combined AEE/Internext adult show in the future, just like they combined the magazines. Remember this story is not that AVN Magazine went bankrupt. That's not the case. The story above is that the parent company of the company of that purchased the organization that runs the show has liquidity problems and filed bankruptcy. I am pretty certain that both AEE & Internext will go off as planned in January, and maybe be combined and/or scaled back next year..

this really has nothing to do with AVN, they licensed the awards and the show to AEE as far as I know

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#21

10-22-2009, 11:56 PM

interesting stuff

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#22

10-23-2009, 04:41 AM

"The company’s largest creditor is Wilmington Trust to which it owes $56.6 million in bank debt."

sounds like someones been partying a bit too hard LOL

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#23

10-23-2009, 04:43 AM

a $22 million debt is nothing to sneeze about!
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#24

10-23-2009, 07:39 AM

Originally posted by JFK

this really has nothing to do with AVN, they licensed the awards and the show to AEE as far as I know

That's my point, AVN Publications, a cash cow for many years, is still a profitable company and some version of their trade show, whether it is called AEE or something different, can and probably will continue for many years to come.
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#25

10-23-2009, 09:15 AM

I go to Vegas, hope the show will go on.

I will buy tickets when i am there. You never know who collects the money.
I think they have to put on their website what's going on, sponsor aren't paying in advance when they don't know what happens.

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#26

10-23-2009, 09:18 AM

Originally posted by Jim_Gunn

That's my point, AVN Publications, a cash cow for many years, is still a profitable company and some version of their trade show, whether it is called AEE or something different, can and probably will continue for many years to come.

I was slightly off.........
2009 AVNAwards.com is a property of AVN Media Network. All rights reserved

and both shows are ON

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#27

10-23-2009, 10:30 AM

CES is not having it's show at the same time for the first time ever. I think that will affect attendance a lot.

The signs that AEE is getting desperate to sell booth space has been more obvious in the last two years with random companies hawking their wares at a porn convention. There was a booth for teeth whitening with procedures being done on the show floor, another one selling sheets (not special sexy porn sheets, just standard sheet sets), and a handful of other vendors that seemed a bit out of place at an adult convention.

While I think the show will draw a large group of fans and odd exhibitionists as it does every year, it won't be near capacity as it has been in the past. Not to mention the DVD market isn't what it used to be, so I doubt the buyers will be there in hoards.

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#28

10-23-2009, 11:10 AM

Originally posted by JenniDahling

CES is not having it's show at the same time for the first time ever. I think that will affect attendance a lot.

Are you sure?
http://www.cesweb.org 2010 International CES, January 7-10

See what happens at the International CES in each of its venues ? the Las Vegas Convention Center/Las Vegas Hilton and the The Venetian.

everything is fake
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