Summary Leisure ends after being put into voluntary liquidation.
The promoter and occasion planning firm owes almost $ 700,000 to 95 particular person collectors, break up between ticketing firms, musicians, radio networks, venues and promoters.
Its related entity, Summary Touring, remains to be in operation and just lately introduced the Belinda Carlisle Tour of Australia for February 2022.
Summary Leisure has largely blamed COVID-19 for the deterioration in its monetary efficiency and place, which has led to the voluntary liquidation.
Within the report back to collectors, seen by TMN, the corporate famous that below regular circumstances it might obtain royalties and commissions from its associated entity Summary Touring. On this case, nonetheless, Summary Leisure incurred varied bills associated to the planning and promotion of concert events and exhibits that have been slated for 2020. Within the meantime, all gross sales and presale funds have been held by a ticket company. and couldn’t be unlocked. as soon as the live performance or efficiency was organized, which didn’t occur, in accordance with the creditor’s report.
“As a result of nationwide and worldwide authorities restrictions carried out within the wake of the COVID-19 pandemic, concert events and exhibits have all been delayed and / or canceled. Because of this, the enterprise was unable to generate income and has since been dormant. “
He mentioned the lingering stage of uncertainty surrounding the rescheduling of concert events and exhibits, and the cash he didn’t obtain in early 2020, mix to imply the corporate won’t restart enterprise operations for liquidation.
The liquidator, Aston Chace Group, obtained $ 10,000 plus GST to cowl preliminary compensation and bills related to the liquidation of the corporate.
Its 95 collectors owe $ 696,382.12.
The largest of those is Jally Leisure, which is listed at $ 106,938.51.
Ticket firms have been additionally hit, with Ticketek up $ 1,196, TEG Digital down $ 4,400 and Ticketmaster listed at $ 3,850. Eventfinda AU is owed $ 3,531.
Different main collectors embrace the Australian Radio Community (ARN), which is down $ 32,338.80, the Every day Press ($ 100,711.90), Estellar Publicity and Promotions ($ 16,970.22), 9 Radio ($ 23,716 ), Gold Coast Group Radio 94.1FM ($ 6,886) and APRA ($ 9,946.49).
Musician John Waters additionally owes $ 23,716.
The only real director of the corporate, Rocco (Roy) Ortuso, who initiated the liquidation, famous that he and his spouse might also have a declare towards the corporate for unpaid worker rights.