Pink Flamingo directors Tony Rigas and Sue Porrett comment on liquidation, ticketholder gripes
Directors of a Gold Coast cabaret company say they shut their Brisbane venue and plunged their company into liquidation “with the deepest sadness”, less than a year after their other companies collapsed owing more than $3.7m. Read what they said
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Directors of a Gold Coast cabaret company say they shut their Brisbane venue and plunged their company into liquidation “with the deepest sadness”, less than a year after their other companies collapsed owing more than $3.7m.
The Pink Flamingo Spiegeland closed abruptly last week, leaving scores of ticketholder and an unknown number of creditors out of pocket.
The company behind it, Project 303 TPF, was placed into voluntary liquidation late on Friday night.
The collapse came less than a year after the company that launched Pink Flamingo Gold Coast, Project 88 TPF, was put in voluntary liquidation with $3.7 million debt.
Both Project 303 TPF and Project 88 TPF are directed by the cabaret’s founders Sue Porrett and Tony Rigas.
It is the eighth company liquidation for Mr Rigas, who has enjoyed a long and colourful night-life career.
A statement from the Ms Porrett and Mr Rigas said the latest liquidation had happened after a “last-minute financial rescue failed to materialise”.
“As late as Friday we had hope that we would be able to save TPF Brisbane from liquidation,” the statement said.
Witnesses near the Brisbane venue reported seeing removal trucks taking equipment and supplies from the property shortly before the liquidation.
The directors’ statement said this was done out of “concern for the business assets”.
“We felt it was important to allow the businesses that had their rental equipment onsite be able to secure it,” the statement said.
“Some opted to remove their equipment.”
ASIC records show new company KSAJ Group was created on July 11 with Louise Huxham – de facto partner of Mr Rigas and a senior club manager – its sole director.
The liquidator’s report revealed the venue’s owners gave the Pink Flamingo Gold Coast business to KSAJ – free – shortly before liquidation, but the founders maintained it was done with “integrity”.
The directors this week said they would work with the Brisbane venue’s liquidator to ensure “all ticket holders are considered”.
Their statement spoke at length about the reasons for the companies’ failure, including a lack of government support, increased costs and subdued consumer spending.
“People, like us, in our community who have the appetite to build businesses and create hundreds of jobs become casualties as well when the vision, hard work and dedication of these entrepreneurs and risk takers is not sustainable,” the statement said.
“I guess what we are saying is there are no winners from the fallout, no celebration, no joy, just loss and sadness from all who took the risk.”
Pink Flamingo also found itself in a flap in 2023 when ordered to pay $30,000 to two former staff in an unfair dismissal case.
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