In October perth Fashion Festival offered creditors 25 cents in the dollar or full repayment over six years.
Creditors were told if they did not accept the arrangement, they would receive nothing because the company would go into liquidation.
Perth Fashion Festival was managed by Perth Fashion Festival Pty Ltd for 20 years until it faced problems paying suppliers after the 2018 shows.
In an email sent to creditors in October, Jack Blahut of Sentinel Corporate Advisory said he was yet to receive a response from creditors in regards to the proposed debt agreement.
“Whilst neither option (25c in the $ or full repayment over 6 years) may be palatable to you, the fact of the matter is that the company has no capacity to make any other compromise, at this point in time,” Mr Blahut wrote.
