Monday, October 30, 2006

NEWS FLASH - Festivals Can Go Bankrupt

Don't let this happen to you. This news blurb comes from Canada ......

Tulip Festival Seeks Bankruptcy Protection

by Josh Pringle, Monday, October 30, 2006

After four years of financial trouble, the Canadian Tulip Festival has filed for bankruptcy protection.
It's believed the festival owes creditors an estimated 390-thousand dollars.
Councillor Georges Bedard says last week's bankruptcy protection filing was a necessary step to find agreement with the creditors in order to move forward with a future festival.
The Tulip Festival's annual budget ranges between 1.5 million and 1.8 million dollars.
Organizers have blamed low attendance in recent years on cold, wet weather during the month of May.

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