This was published 6 years ago
Daile Cross and Linda Parri
The perth Fashion Festival has gone into administration owing more than a hundred creditors about $819,000, the newly appointed administrators have revealed.
Richard Albarran and Cameron Shaw of Hall Chadwick were appointed administrators on Monday and are assessing the financial position of the company.
The first creditors meeting will be held on November 28.
Perth Fashion Festival joint directors Tony Sage and Mariella Harvey-Hanrahan said they had been trying to secure a repayment agreement with the 104 festival creditors but claimed this had not been achievable.
“A small number of creditors were not prepared to enter into a payment agreement and funds that are owed to PFF by a major debtor have, as yet, not been received,” their statement said.
They had therefore placed the company into voluntary administration.
One outcome would be proposing a settlement with creditors through a Deed of Company…