Star Empire's company building goes up for auction

[rightclick5ave.livejournal.com]

Things aren't looking too good for Star Empire as their headquarters building is out on court ordered auction.

According to real estate auction company GGI Auction, the Star Empire building consisting of 4 stories is listed for auction, and the first bidding session will be held by the Seoul Western District Court September 8.

The building's estimated value is 3,758,930,000 KRW (~ 3.2 million USD), and the creditor TRI Entertainment, who requested the forced sale by auction, is asking for 1,137,770,000 KRW (~ 1 million USD). The building is also held as collateral for 1,968,000,000 KRW (~1.7 million USD) as mortgage by the city bank.

GGI Auction revealed, "The building in question is a case of forced sale by auction and it's a case where TRI Entertainment won their lawsuit to begin its process to recover its investment. As with most forced sale auctions, it probably will not be called off easily."

Article: Star Empire company building forced to auction sale "bonds withdrawn"

Source: Nate

1. [+305, -10] Siwan, Kwanghee, and Hyungshik really should look into finding new agencies

2. [+282, -9] Nine Muses should go to a different agency. This agency will never be able to bring them to their potential..

3. [+237, -5] Are they in that difficult of a financial situation even with ZE:A and Nine Muses performing events...? Nine Muses performs at tons of events.. and they had Yewon but she's done now.. I guess Kwanghee needs more work.

4. [+36, -2] If the company can't stay afloat with Siwan and Kwanghee, then they have no right staying in business

5. [+33, -8] Maybe they spent all their money on media play

6. [+29, -0] It's amazing that they're even still a company when neither ZE:A or Nine Muses really took off

7. [+23, -3] What's going on with this company?

8. [+10, -0] Looks like they only looked good on the outside

sources: entasia, netizenbuzz

brb setting up gofund.me/ninemuses

Comments

[iznanassi.livejournal.com]

Okay even though 9M and ZE:A aren't top stars or anything, they aren't bringing in NO money like 9M gets a lot of events and guestings on shows, and ZE:A members are making bank right now. The company doesn't PAY them (see: 9M constantly talking about how they can only and barely buy food) so...where is the money??? Why are they being foreclosed on??

[ainsleys.livejournal.com]

as a ze:a fan, today's been a weird, sad day.

how is it that the most shit company has gathered & exposed me to some of my favorite people. it's a world of mysteries.

[rightclick5ave.livejournal.com]

if it's any consolation, K-MINEs (who usually have no chill, in a good way) haven't been freaking out on twitter about this news so maybe it's not THAT big a deal?

[lightframes.livejournal.com]

Same. How did both ZE:A and NM come from this terrible company. :(

[hurtmybones.livejournal.com]

this fucking company is responsible for my raised blood pressure is2g

[donutism.livejournal.com]

someone save these girls Q.Q

brb buying all their albums, which sucks cause its not like they see the profits

[rightclick5ave.livejournal.com]

heh, you have to at least buy their S/S album! THE PHOTOBOOK IS SO WORTH EVERY CENT *__*

[xxyumekaxx.livejournal.com]

Honestly, what's going to happen now to the groups and employees?

As a ZE:A fan I was always impressed how ZE:A sticked together as 9 all these years but I guess it won't last much longer and I'm sad and happy at the same time because SE sucks. Sigh.

[rightclick5ave.livejournal.com]

I think the building thing will affect the employees much more than the groups, since the groups basically only use the facilities for practice and those can be found elsewhere.. but if you meant in the overall financial sense, then yeah :/ 9m's managers and staff seem pretty close to the girls and treat them well, but it's the top management that's so shady...

[bunica1990.livejournal.com]

Mte

I feel bad for the artists.

[pikapika217.livejournal.com]

#SAVENAMYU

[purpleglaceon]

I love both groups and it's why I want this company to crash. The sooner the better so these idols can be free of this fuckery.

[rightclick5ave.livejournal.com]

free and agency-less..? :/ no company's gonna pick up two gazillion-membered groups.. it would be devastating to see OT8 Muses split up after going through so much to regroup this year :(

[purpleglaceon]

So you'd rather they stay with a company that treats them like pure shit, even worst than SM, just so they'd stay together ? Really ? Dude, use your fucking brain.

[rightclick5ave.livejournal.com]

wow, hostile much? I'm saying that they're obviously enjoying their promotions this year, and I would hate for them to lose that. Eunji, Sem and Sera leaving broke my heart but it was the right choice for them because they weren't happy (and in Eunji's case, injured).

but yeah, now I don't know how to reconcile wanting them to be happy as a group vs wanting them out of that shithole that doesn't pay them as much as they should.

[rennehollic.livejournal.com]

if I buy the building, can I just throw the horrible staff and ceos away and let Nine Muses and Ze:A do their thing surrounded with people they trust and will look for their best interest?

#save9muses

[seroquels.livejournal.com]

you got a million dollars sitting around? cuz if so, I'd like to talk to you about some investment opportunities :P

[rennehollic.livejournal.com]

I'll not kidnap b1a4

[atopworld.livejournal.com]

This is just sad....I worry about the groups they have. I can't say whether it's good for ZE:A and NM or it's about to get bad.