Richard Branson sues US rail company for Virgin name change

  • 📰 newscomauHQ
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 77%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Virgin is suing a rail company for backing away from using the Virgin name because it was no longer a brand of “high repute”.

The rail company, Brightline, signed a 20-year deal with Sir Richard Branson’s Virgin Enterprises in 2018 to operate as Virgin Trains USA, with Virgin to be paid in royalties.But Virgin claims the rail company has ended its deal because it believed the Virgin brand “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic”, theVirgin denies its reputation has suffered and is suing the Florida-based rail company for $329.

Virgin said after ending the licencing deal, Brightline continued with its project to extend its network Orlando and entered into deals to launch a new station and commuter service. It is also planning a route between Apple Valley, near Los Angeles, and Las Vegas. “The Virgin brand has, at all material times, remained a brand of international high repute,” the lawsuit says, according to theIn its lawsuit, Virgin claims that according to the terms of the deal, the earliest Brightline could have ended it was in 2023, and because of that Virgin was entitled to royalties paid until that year, as well as an early termination fee.

Virgin founder Sir Richard Branson even offered his luxury Caribbean island as collateral to secure a UK government bailout for the London-based airline.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wont be long before Virgin are slut shamed for being utterly fvcked.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines