Has Fortress Dropped HLS?
Wednesday, December 29th, 2010Huntingdon Life Sciences have been reliant on loans since the beginning of the campaign to shut their company down. The SHAC (Stop Huntingdon Animal Cruelty) campaign has been effective on nearly every continent in its efforts to stop the horrific violence and abuse that takes the lives of 500 animals every day of the year. HLS initially had a £12 million loan with Natwest. When RBS took over Natwest in 2001 they did not want to take the campaign with them, and when HLS failed to pay their money back in time they wrote off the debt for £1. HLS then borrowed money from US bank Stephens, after a year of campaigning they dropped HLS. By 2006 HLS were $100 million dollars in debt after securing an “anonymous” foreign loan. No other financial institution would touch them and still won’t. SHAC have now traced the anonymous loan back to the Fortress Investment Group, as US based financial company who specialize in high risk loans and acquisitions.
In 2009 HLS are still $70 million in debt and meant to pay it back in 2011, but HLS were also in crisis in March 2009 when they were unable to make one of their loan repayments. CEO Brian Cass even tried putting out a desperate plea in the national press calling on a bank to give them a loan and bank account, but no one responded as HLS rightfully remains a pariah.
HLS cannot pay back their 2011 loan to Fortress, and as a result have been forced to sell the company. No one else wants to help HLS which is why their American management has borrowed still more money to privately buy the company for over $100 million! Before the sale could take place, HLS was forced to commission an independent analysis of their financial situation. The results were incredible as they were proven to be on the brink of bankruptcy. Fortress has been the key to HLS’s survival, and are really their only hope.
2010 has seen major demonstrations against Fortress and their subsidiaries all over the world. Recently this post was released to an Animal Liberation reporting website:
– statement released by anti-HLS campaigners:
“Fortress Investment Group have ceased all loan facilities with Huntingdon Life Sciences / LSR / and all associated subsidiary companies. They will not re-finance the loan either themselves or via any other financer.
More information will be made public soon.” – The following was taken from bite back online.
For more information on the campaign to Stop Huntingdon Animal Cruelty check out: http://www.shac.net/HLS/who_are_hls.html



