Photo booth company backed by 'Dragon' Deborah Meaden goes into liquidation
Photo booth provider Zeven Media, which secured a £50,000 investment from Deborah Meaden on Dragons' Den, has gone into voluntary liquidation.
Alan Coleman, of Manchester accountancy firm Royce Peeling Green, has been appointed to wind up the Manchester-based company.
Founded by brothers Josh and Hyrum Cook in March 2013, Zeven employed six people at its offices in Stretford.
The Cooks had appeared on Dragons' Den in January 2015 to pitch its premium, social media-integrated photo booths.
They gave such a good account of themselves that the offers flowed – from Kelly Hoppen, Duncan Bannatyne and Deborah Meaden, while Peter Jones was interested but felt there would be a conflict of interest with one of his companies, Jessops.
In the end, the brothers accepted £50,000 from Meaden for a 25% stake, and had since moved into building bespoke booths and payment booths.
Despite Josh confidently predicting in an interview with Prolific North last year that the company could be sold for eight figures within five years, the company made a loss last year.
Coleman told us there had been no interest at all in trying to sell Zeven and he had now moved on to attempting to sell the company's assets.