Carriageworks folds as coronavirus takes another arts industry victim
Carriageworks Redfern – one of Sydney’s most iconic arts, performance and market venues and home of Fashion Week – has gone into administration blaming the cancellation of events due to the coronavirus for its downfall.
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Sydney’s iconic Carriageworks went into voluntary administration on Monday after its board decided the cancellation of events due to the COVID-19 pandemic had sealed the venue’s fate.
The largest contemporary multi-arts centre in Australia had survived since 2007 mostly on hosting events and programs.
“The sudden cancellation or postponement of six months of activities due to restrictions on public gatherings has resulted in an irreparable loss of income,” said a statement from the company.
“Activities that had been scheduled for this period included iconic events such as Sydney Writers’ Festival, Mercedes-Benz Fashion Week Australia, and the design event Semi Permanent (aligned with VIVID Sydney).”
Carriage works chief executive Blair French said the business had been trying to service since early April.
“Following the earlier loss of shifts for casual staff, in early April we stood down almost half of our core staff and asked those remaining to move to a three-day week,” he said.
“Focusing on essential work only we have been striving to find a way through the impact of the COVID-19 lockdown.
Since opening in 2007, Carriageworks had attracted about one million people a year and up to 5000 to its Saturday farmers market.
“But with restrictions on social gatherings likely to remain in place for some time to come, the Board determined that it had no alternative but to place the company into Voluntary Administration,” Mr French said.
KPMG’s Phil Quinlan and Morgan Kelly have been appointed Voluntary Administrators of Carriageworks Limited.
Mr Quinlan said he would work with Carriagework’s board to secure the centre’s future.
“We will be exploring the possibility of a Deed of Company Arrangement to stabilise Carriageworks’ financial position and allow it to continue its important role for Australian arts and culture,” he said.
“All options are on the table for consideration.”