Monday, January 26, 2009

Star Trek star files for bankruptcy after failed enterprise.

Star Trek actor Jonathan Frakes, known to hundreds around the world as Commander William Riker from the Star Trek: The Next Generation television series, has filed for bankruptcy, it has emerged. In 2005 Frakes launched a line of foods under the "Jonathan's" banner - the products all took advantage of the actor's surname, substituting the word "flakes" for "Frakes".

However, the "Jonathan's" company soon accumulated a mass of debts and Frakes was eventually forced to admit that he had grossly overestimated demand. A series of cash injections and emergency loans followed, but by then it was too late. "Jonathan's" went into liquidation on Sunday, with estimated debts of $270 million. "I put my life and fortune into this," Frakes told Newsifact on Monday "I thought that the idea of corn Frakes and chocolate Frakes would appeal to millions around the world - not just Star Trek fans, but I was wrong. Now I am broke and frankly completely screwed."

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