Harris Lipman News
Harris Lipman appointed liquidator of Vert Limited, trading as Carmina Burana
28/11/2006
CARMINA BURANA IN LIQUIDATION
Barry Lewis of London based chartered accountants and licensed insolvency
practitioners Harris Lipman has been appointed as liquidator of Vert
Limited, trading as Carmina Burana.
The company was incorporated on the 24 January 2006 for the purpose
of producing a Spanish touring version of the show "Andalusian
Images for Carmina Burana."
The choral show, which features Spanish choreography, flamenco, guitars
and two famous Andalusian stallions had been very successful throughout
Europe. As a result, the show was brought to theatres throughout Britain.
The tour commenced on the 3 April running through to the 22 July, with
the intention of bringing it back in the Autumn of 2006 with further
theatre bookings being made.
The company was run by James Wood who has considerable experience in
the theatre but booking levels were considerably lower than he had
projected and costs were not being met. Therefore a number of cost
cutting measures were taken. However cancelling the shows would have
resulted in damages claims against the company for breach of contract.
Instead the economies undertaken included a re-negotiation of the contract
with the Spanish company, La Caudra de Sevilla, re-negotiated deals
with the theatres and a general reduction in overheads.
Regrettably all of these measures did not stem the losses and due to
continuing poor box office revenue the proposed second phase of the
autumn tour was cancelled with the company having to be placed into
liquidation, with a deficiency of just under £150,000.
Barry Lewis comment: "It is always very sad when theatre productions
are mounted, with high expectations from well experienced theatre producers,
only for the public not to react in the manner expected and for suppliers
and investors to lose money. Unfortunately,the theatre is well known
for such situations and there can never be any guarantee of success."
For more information please contact Harris Lipman on 020 8446 9000.
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