The company, whose clients include Steve Aoki and Paris Hilton, reportedly owes $87 million to lenders and has agreed to appoint a chief restructuring officer.
, who doubles as the manager of dance music DJ Aoki. Colon joined the company after Deckstar, an artist management company he co-founded, was acquired by the James Grant Group in 2017.has held the position of YMU Group’s global CEO since January 2021. In February, former NBCUniversal marketing executivewas appointed YMU group chair. This week, Yaccarino officially took over the CEO role at Twitter fromAccording to its latest financial accounts, YMU Group’s revenues totaled £41.
Despite the rise in revenue, YMU Group recorded a loss after tax of £4.8 million in 2021, which the company attributed to net interest costs of £5.8 million and £7.2 million in depreciation and amortization. That’s on top of a loss of £52.8 million in 2020, according to financial filings at the U.K.’s Companies House.
YMU’s accounts state that as of Dec. 31, 2021, the company had net liabilities of £74.7 million “largely as a result of the group’s long-term borrowings, which are not repayable until 2025 and beyond.” In its 2021 year-end filing, YMU Group said it continues to look for growth “organically and through acquisitions in both the U.K., North America and increasingly mainland Europe,” with the development of the group’s overseas operations “a key strategic focus.”Daily newsletters straight to your inbox
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