Only two formal bids made for TT merchandise contract

Enterprise minister says neither were from Manx companies

Only two formal bids were made for the contract to produce and supply the TT's official merchandise last year.

The enterprise minister has revealed the information in a Tynwald written answer, after ties were cut with Cube International.

Tim Johnston says, despite local company interest, it only received two formal proposals.

Neither of them were from Manx companies.

Mr Johnston stresses the contract was awarded as per the pre-defined evaluation criteria, including operation facilities, design and product sourcing and PR and marketing.

Cube International still owes government and local businesses more than £220,000.

The minister says he's been told third party financing is currently being sought to make the outstanding payments.