Staff and freelances of defunct men’s magazine Ikon have threatened legal action against its managing partners if they put the title’s publishing company, European Consumer Publishing, into liquidation.
Staff claim they have not been paid for three months even though the majority shareholder Winchester Multimedia Plc is continuing to fund other operations.
Other shareholders in the company include directors of the advertising agency Cowing Balmforth Trendall.
The magazine sold about 80,000 copies of its 99p first issue in July, but is understood to have slipped to below 30,000 by the fifth and final issue.
The advertising sales manager left after two issues and afterwards the title failed to secure a healthy volume of advertising.
“The magazine was strong editorially,” says former contributor Andrew Muller, “but was completely bungled by its management.”
Ikon was part of the boom in men’s magazines when it launched last year, to join Dennis Publishing’s Maxim and the Rodale Press’ Men’s Health.
Publisher Jonathan White was unavailable for comment at the time of going to press.