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November 21, 2018

Event organiser selling off property to pay debts after flopped concert

Event organiser selling off property to pay debts after flopped concert
Event organiser selling off property to pay debts after flopped concert

How the mighty have fallen! A popular events bigwig is counting losses running into millions after a major concert that was headlined by international artistes flopped.

According to sources, the boss never received a red cent out of it. He got burned, no profit, nothing. Sources say the losses were due to factors such as high artistes’ fees, lack of proper marketing, high ticket prices, lack of a title sponsor and just bad timing. 

Word has it that he is selling off his property to offset the mounting debts.

Question is, do these concerts ever make money for the organiser? Do they make business sense? Will the big boss ever recover from the loss? 

Anyway, kila mtu apambane na hali yake.

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