Remnant Media is a British company which owns a variety of pornographic "top-shelf" magazines which were acquired from Richard Desmond's company Northern and Shell. Richard Clive Desmond (born December 8, 1951) is a British publisher, current owner of Express Newspapers and founder of Northern and Shell plc. ...
The company's most notorious title is Asian Babes magazine. Other magazines published under its "Fantasy Publications" brand include Readers Wives, Horny Housewives, Mega Boobs, Mothers-in-Law, Big Ones, Just 18 and 60 Plus. Asian Babes is a British pornographic magazine which concentrates on depictions of women of Indian, Chinese, Japanese and Thai origin, with occasional depictions of women from other parts of Asia and the far East. ...
Remnant Media also publishes Attitude. Attitude is a magazine published by Remnant Media within the United Kingdom aimed mostly at Gay men. ...
RemnantMedia, the business that bought more than 40 adult titles from Mr Desmond in an £11m deal two years ago, expects to list on Aim over the next month through a reverse takeover of sister company Parkgreen, which will then launch an initial public offering.
Remnant intended to launch the IPO this month alongside the £9m acquisition of a mobile technology company but has delayed the flotation for a further month.
Remnant has had a troubled history and received a bankruptcy petition from Mr Desmond months after he sold his adult titles, which include publications such as Big Ones and Asian Babes, to Mr Robinson.
As part of the deal, Remnant had assumed that it would be entitled to receive £850,000 from Richard Desmond's Northern and Shell companies relating to receipts from debtors of the acquired business accrued in January and February, the two trading months immediately preceding the sale on 1 March 2004.
Remnant found itself having to repay £500,000 a fortnight after the deal was completed.
The sales and purchase ledgers went astray at some time during the change of ownership transition period and the Remnant management was concerned that up to £50,000 of invoices had gone missing and that the company may have a £100,000 liability to its printers.
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