Inverness Caley Thistle Concert Company goes into liquidation
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Inverness Caley Thistle Concert Company has gone into liquidation – several months after creditors were left out of pocket.
The Inverness Courier reported in August that multiple businesses had been informed that the Inverness Caley Thistle Concert Company “exceeded its budget” in staging performances of Andrea Bocelli and Duran Duran on consecutive evenings the previous month at Caledonian Stadium.
Documents alleged that a “lack of internal controls” led to costs spiralling – an issue some companies have already disputed, with legal action pending.
Dundee-based firm Ascot Tax had been brought in to try and resolve the issue and creditors were sent a letter outlining a company voluntary arrangement, which was “recommended” as the next course of action.
A one-off dividend was offered amounting to 65 per cent of money owed to creditors – meaning more than a third of their bill could be left unpaid.
One creditor who did not wish to be named said this week: “We’ve lost out on money that should be covering us over the winter period when we’re not doing events.
“The whole thing has been a shambles. It is like they decided to put on an event on a whim. There is a small amount of people who can put on an event like that well.
“I’ve managed to get a deposit but that’s it. It’s not fair.
“It’s a shame the way we were all treated. People drove miles to help out and never got paid the money they were promised. You shouldn’t have to chase companies for money. It has been shocking really.”
TLC Welfare, which provided support services for vulnerable customers at the events, received a portion of the fees it was due.
A spokesperson for the firm said: “We have been settled and paid a percentage of what we were due.
“These are the risks you take when doing events, and we are happy with the outcome we have received.”
It is understood Inverness Caley Thistle Concert Company and Inverness Caledonian Thistle are separate legal entities though the director of the concert company is football club chairman Ross Morrison.
Club director Liam Dalgarno stepped down from the concert company in September.
The football club and Mr Dalgarno were both contacted for comment.
