Dean Roberts of 3tone has been using a call with the UK’s Association Of Independent Music as a tactic to delay paying what he owes to artists, labels, and former employees. In an email shown to CMU, Roberts claims that AIM will give an “honest opinion” on 3tone Music’s direction moving forward, which AIM has denied approval of. Roberts is hinting at a “new finance agreement” being days away as the only way for anyone to get paid.
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Despite previous promises of imminent funds from investors, Roberts now faces a lack of working capital after the collapse of financial partners, Carlton James, and their associated Navigator Fund. This collapse has been linked to a scandal involving missing funds and a serious lack of financial control. The collapse of these partners coincided with the drying up of investment funds for 3tone.
It is now unlikely that 3tone will be able to recover from its current situation through trading alone. Reports suggest that Roberts has been elusive in meeting debt obligations, leading to unpaid staff, suppliers, and artists. Many industry insiders feel that the only appropriate course of action for Roberts is to apologize, liquidate the company, and use remaining funds to settle debts.
Former employees and industry sources express doubt in 3tone’s ability to trade its way out of the situation, citing concerns of continued fraudulent practices and non-payment. Roberts’ actions have led to legal issues and avoidance of debt enforcement, causing further distress to those he owes. There is skepticism regarding Roberts’ intentions to salvage the company and repair his image, with suspicions of manipulating the narrative to his advantage.