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Peats Ridge In $1.2 Million Hole

Peats Ridge over New Years. Pic by Meg White
Jan 31st 2013 | 4:28pm | Scott Fitzsimons
The embattled Peats Ridge Festival owes over $1.29 million to creditors after the company was put into liquidation earlier this month.

The list of creditors has been released by liquidators Jirsch Sutherland with companies and individuals all across the music industry affected.

Headline act John Butler's Butler Brown Touring Co is owed $95,579, while bar providers Sorted Events are the biggest creditors with $283,726 owed. The festival's booker Damien Cunningham is owed $49,477 through his company Elastic Entertainment.

Artists such as The Falls, Cass Eager & The Velvet Rope, Fanny Lumsden & The Thrillseekers, Lolo Lavina and Unknown Mortal Orchestra (through agency Artist Voice) are listed – The Black Seeds are owed $11,500 – but many more are owed money through touring companies or agencies.

Billions Australia will be looking to recoup $45,650, Chugg Entertainment $6,985, The Harbour Agency $16,195, Select Music $6,780, Modular Agency $11,000, Foreign Dub $12,100, Niche Productions $10,000 and Fuzzy Touring $5,500.

APRA are listed for $14,850 while other notable inclusions are Australian Mobile Staging $15,296, ISEC $15,249, JR Richards & Sons $38,460, Oztix $10,982, Premier Motor Services $20,748, Rock Posters Sydney $6,600, Sydney Posters $16,792, TFH Temporary Fence Hire $20,465 and Splashdown $28,837.

The theMusic.com.au's publishers are owed $4,315.

The festival's only listed asset is $140,000 in cash and debtors are currently listed as unknown. The liquidators are expected to charge $80,000 for their services.

Today the liquidators told theMusic.com.au they at this point that have not been able to ascertain what ticket revenue is still to be realised.

Last week festival promoter Matt Grant told theMusic.com.au he was still hopeful of finding an investor to rescue the situation, but without further debtors it is unlikely the company will attract a buyer.

Grant could not be contacted for comment this afternoon.

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Dates

Friday 3rd October

Caloundra Music Festival
Caloundra Music Festival + John Butler Trio + Tina Arena + Richard Clapton + Ball Park Music + The Jungle Giants + Pete Murray + Wolfmother + Baby Animals + James Reyne + more

Kings Beach, Caloundra

Saturday 4th October

Caloundra Music Festival
Caloundra Music Festival + John Butler Trio + Tina Arena + Richard Clapton + Ball Park Music + The Jungle Giants + Pete Murray + Wolfmother + Baby Animals + James Reyne + more

Kings Beach, Caloundra

Sunday 5th October

John Butler Trio + Mama Kin

Empire Theatre, Toowoomba

Sunday 5th October

Caloundra Music Festival
Caloundra Music Festival + John Butler Trio + Tina Arena + Richard Clapton + Ball Park Music + The Jungle Giants + Pete Murray + Wolfmother + Baby Animals + James Reyne + more

Kings Beach, Caloundra

Monday 6th October

Caloundra Music Festival
Caloundra Music Festival + John Butler Trio + Tina Arena + Richard Clapton + Ball Park Music + The Jungle Giants + Pete Murray + Wolfmother + Baby Animals + James Reyne + more

Kings Beach, Caloundra

Tuesday 7th October

John Butler Trio + Mama Kin

Moncrieff Entertainment Centre, Bundaberg

Thursday 9th October

John Butler Trio

Mackay Entertainment Centre, Mackay

Saturday 11th October

John Butler Trio

Kuranda Amphitheatre, Kuranda


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