Insolvent theatre firm leaves ticket holders in the lurch

Insolvent theatre firm leaves ticket holders in the lurch

Consumers with tickets for productions at Peterborough's Broadway Theatre have been left in the lurch after operator StageLive ran into financial difficulties.

The firm could require the expertise of a business recovery services specialist after it became insolvent, leaving question marks over the future of the venue.

According to the Peterborough Evening Telegraph, all performances at the site have been cancelled and the theatre is now up for sale.

Owner Rinaldo Fasulo claims StageLive owes him money and the firm has been unresponsive to ticket holders looking to discover whether or not their purchases will be honoured or refunded.

The newspaper reported that the company is likely to be placed into voluntary liquidation as of tomorrow (October 19th).

However, the insolvency practitioner in charge of the case told the publication that it is unlikely that creditors would see any of the money they are owed.

He explained that they have all been invited to a meeting, but added that he "can't see many people getting their money back as the company doesn't appear to have any assets".
According to the newspaper, Paul Parker – a major player in the firm's setup – has previously been jailed for VAT fraud under an alias.

As part of his punishment, he was banned from becoming a company director – which may have set alarm bells ringing for any firm he was involved with.

The Evening Telegraph reported that "several producers" claimed Mr Parker was "running the show", despite his own assertion that he was acting as a consultant.

The latest news, ticketing and productions sections of StageLive's website were blank at the time of this article's publication.

According to the online resource, the firm is "the UK's newest theatrical venue owner and operator, dedicated to presenting the very best live entertainment in high quality venues".

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