Fall Out Boy bassist Pete Wentz, Gym Class Heroes lead Travis McCoy and Yellow Fever clothing designer Jamison Ernest now together own a place where they say “all our loser friends can hang out” – Angels & Kings on East 11th Street in New York City.

Pete tells Page Six he wanted a place for his friends to kick back without being hassled by strict door policies and pretentious, uptight atmosphere.

“It’s different when you want to bring your friends to a place . . . and maybe we’re just not cool enough to get in. We really just want someplace where we can hang out and be ourselves.”

Jamison cheekily adds his idea of a club was “a place that anyone can go and have sex in the bathroom and not get in trouble.”

It is likely Ashlee Simpson is not aware of his wicked intent.