White Marquee Event Hires parent company has been placed in voluntary administration, with debts estimated at $5.7 million, but there are hopes the Greek-Australian owned company can trade through.
The company in question, Adelaide Event Group, also trades as Budget Party Hire and Renniks Events.
Administrators SV Partners, who were appointed on December 21, said the early indications were that the company had unsecured debts in the order of $3 million, owing principally in respect of Commonwealth and State taxes and unrelated trade creditors.
A secured financier is understood to be owed about $2.7 million, administrator Stuart Otway said.
The three brands under the AEG umbrella were continuing to trade as normal during the administrati…
Read the full article at: https://greekherald.com.au/news/australia/greek-australian-business-enters-administration-after-amassing-over-5-million-debt/