NEWS STORY
Empire Video’s Roy Karch Files for Bankruptcy

45.45% |
45.02% |
9.52% |
Empire Video’s Roy Karch is not to be confused with the long-time director of the same name.
In his Chapter 7 bankruptcy filing Karch claims debts totaling $990,907.77 against assets of $35,500. According to the filing, Karch owned 89 percent of Empire Video and had full ownership of Pacific Coast, Epic Interactive and 75 percent of Xcartel, though there is an ongoing dispute with Xcartel co-owner Javier C, who claims he shared a 50-50 ownership split with Karch.
Karch’s biggest creditors include Jules Jordan Video to which he claims $65,463 is owed; LFP Video has accounts receivable totaling $105,654; Platinum X Pictures has $50,320 in outstanding invoices; and Private is out $23,867.
Collecting Empire Video’s debts is unlikely for its creditors given that none of the companies Karch owned or had a stake in is worth anything.
Stock in Pacific Coast, which ceased operations in February, still has some accounts receivable for which collection is doubtful. It’s stock was valued at zero dollars. Epic Interactive produced five or six short movies that were sold through Xcartel and its only assets are the DVD distribution rights to about 80 titles of which the value is extremely limited. It’s stock was valued at zero, too. Despite the ownership squabble, the assets of Xcartel were valued at zero.
Karch claims some of Empire’s woes were due to an unscrupulous warehouse manager that was shipping product without invoicing it. Sales consistently dropped for the company as content delivery shifted towards the Internet, but the company is “still collecting accounts receivable and attempting to pay down corporate debt, which far exceeds the value of the collectible receivables.”
Attempts to reach Karch for comment were unsuccessful.
See all current articles in > adult industry news
RSS Feeds | E-Newsletters | Desktop Widget | Mobile
XBIZ Newswire > Adult industry news service for the media
XBIZ Premiere > Adult industry magazine for the retail market
VIDEO NEWS
ALTA Trade Group, Ideal Image Management Clash Over Licensing
CineKink Film Festival to Screen Brittany Andrews Documentary
West Coast Unveils 'Black Romance Color of Love'
Ron Jeremy Spied Shooting Horror Film
Tommy Gunn Launches Signature Line of Underwear
Video: Jenna Haze Retires From Performing
NOVELTY NEWS
Baci Lingerie Declares Success at Salon International de la Lingerie
Nasstoys Now Distributed by Pink Cherry
HPPPA Launches Toy Line, Taps ECN for Exclusive Distribution
Entrenue Brings Lovehoney’s Rock Box to U.S. Market
JOPEN Announces Intensity Insider Winner
Practice Safe Policy Launches Romney Condoms
RETAIL NEWS
Alabama’s Pleasures Store Hosting 2nd Annual Guns for Toys Event
Playboy Kicks Off Super Bowl With 'Carnival Mystique'
The Tranny Awards Moves to Hollywood, Calif.
Jimmy Flynt Opens New Store in Kentucky
Hustler Hollywood Store, Website Undergo Transformation
Italian Porn Stars Face Off in Mayoral Race
EDUCATIONAL FEATURES
Second Guessing: Apache vs. Lighttpd
Resolving jQuery Coding Conflicts
Choose Correct Settings for Online Display
multiple news outlets with 1 click.
add free content to your website.
with your mobile device.
|
Barcelona, we re coming! Barcelona summit roll-call
Jenn
|
|
New Affiliate Rep and New at Xbiz
Jenn
|
|
There Goes The Neighborhood
Jenn
|
|
|
Adult Entertainment Virtual Convention
Katie K
|
|
CommerceGate & Exoclick to host party at the European Summit!!
Jenn
|
|
Who is coming to the 'Get Social' meeting in Holland on February 4th?
Sven
|
|
TUBE SITES - just out of bone idle curiosity
D45
|
|
Gotta love this
Adult Voyeur
|
|
|
Used-Panty Fetish Collection Business
KAMAJI
|
|
Wanted A Experienced Person With
Roald
|
FIND PRODUCTS & SERVICES

UPCOMING EVENTS





All News / Editorial






























