Home Latest News Adelaide event company was likely in trouble before Covid

Adelaide event company was likely in trouble before Covid

The parent company of White Marquee Event Hire and Renniks which went into voluntary administration in December was probably in financial trouble before Covid-19 struck.

Administrators for Adelaide Event Group, the company behind White Marquee Event Hire and Renniks, say it owes $1.69 million to the Australian Taxation Office among estimated total debts of $5.7 million.

“The company is trading as normal and all bookings are being met and will likely be met into the future,’’ Stuart Otway, from SV Partners, told News Corp Australia.

But according to the minutes from the first creditors meeting “the company has experienced financial difficulty since approximately December 2019”.

“The chairperson also noted that the company experienced further economic downfall in 2020 due to the impact of COVID-19,” the minutes stated.

The next meeting of creditors is expected to be held on February 1.