Powertone Studios Limited Company number 04825138 as of 20.06.2011 was put into a Corporate Voluntary Arrangement by its director Peter Penny. This is as a result of the company being insolvent and was unable to pay its creditors. This is another example of Peter Penny’s conduct as a director towards the many disappointed creditors.
Peter Penny is also a director of a company called Morton Medical which is also in a Corporate Voluntary Arrangement and he has been telling the many suppliers Morton Medical that the flagship of his group of many companies is or was the very successful Powertone Studios.
He can no longer use this argument. To see more information about his other companies please click here.
I am confused and I have a real problem with the credibility of Powertone Studios. His corporate website powertonestudios.com talks about Franchise Opportunities.
Here is his google profile:
https://profiles.google.com/peterpenny10#peterpenny10/about
It talks about:
Introduction
I am managing director of PowerTone Studios, a leading brand and operator of Power Plate Studios. The company has five Power Plate Studios in Central London in Mayfair, Chelsea, Battersea, Fulham and The City. The company is looking for franchise partners to develop studios in other areas throughout uk.
How can it be legal for this guy Peter Penny to talk about franchise opportunities when he can’t even pay his own suppliers?