CARRIAGEWORKS SAGA CONTINUES WITh NO END IN SIGHT

The sorry saga continues with more twists and turns. After an initial proposal for Carriageworks to be taken under the Sydney Opera House umbrella, a number of philanthropists raised two million in an attempt to save it.

The most generous donor is believed to be Board Director, major art collector and philanthropist  Geoff Ainsworth and his partner Joanna Featherstone,

Billionaire philanthropist Kerr Neilson and daughter Paris have pledged conditional financial support to Carriageworks provided Carriageworks comes to some arrangement  with its leasor, Create NSW.

As many as fifteen parties have registered their interest to the . administrators.

The Sydney Morning Herald has revealed that the historic complex owes more than two million dollars after it put itself into voluntary administration with KPMG.

Among the creditors are the Australian Centre For Contemporary Art, the Sydney Theatre Company, Moogahlin Performing Arts, chef Kylie Kwong, the Museum of Old and New Art in Hobart, with the largest creditor being Create NSW which provided more than 2.5 million to Carriageworks which had been expected to be paid by July,.

The most poignant of its creditors are its employees who are owed $430,000 in leave entitlement.

The venue lost revenue as a result of the cancellation  of the Sydney Writer’s Festival, the Australian Chamber Orchestra Recitals, the Sydney Festival, Mercedes- Benz Fashion Week, Vivid shows and its weekend fresh food Farmer’s markets.

Watch this space.