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Hatton Knocked Out By Recession As Firm Loses £2.2m

Hyde boxer's brand takes heavy hit from economic downturn

Written by . Published on July 25th 2011.

Hatton Knocked Out By Recession As Firm Loses £2.2m

LOCAL boxing hero Ricky Hatton took heavy blows out of the ring last year as his commerical interests lost money.

Hatton, who recently called time on his fight career, saw his company, Punch Promotions, set up to launch a number of branded commercial lines, lose £2.2m in 2010.

The accounts say the looses were 'not unexpected' however, due to 'economic conditions' and the fact that four of the five subsidiaries were only in their second year of trading.

The firm, which Hatton runs with hs Dad, Ray, had made a profit of £5.4m in 2009. In 2010, it turned over £2.7m, compared to the £11.5m it raked in the previous year.

In 2008, Hatton announced plans to launch a branded clothing range through one of his companies, Hatton Independent Trading Ltd, a tongue in-cheek reference to TV sit-com Only Fools and Horses.

Hatton's last fight came in May 2009, when he was defeated by Manny Pacqiuao in Las Vegas. He only lost two of his 47 fights, however - his other loss was to Floyd Mayweather Jr - and built up a huge army of fans in Manchester.

Hatton also owns a gym in Hyde and has become a fixture on the stand-up comedy and after-dinner speaking circuit.

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