AusLeisure

Grandstands used for Adelaide’s Clipsal 500 grandstands have been caught up in the financial collapse of Elite Systems Australia – the firm contracted to provide grandstand scaffolding at the event by the South Australian Tourism Commission.

With Elite Systems Australia having gone into administration in May, leaving unpaid bills of more than $1 million for its South Australian subcontractors, the ABC has reported that the scaffolding has now been bought by McMahon Services.

With Elite Systems Australia having been just months into its contract to supply the V8 race, McMahon Services is reportedly negotiating to supply the grandstands for next year's event.

However, the South Australian Government is still owed $581,000 from Elite Systems and stands to pay for the seats twice.

There are up to 90 other unsecured creditors owed money from the collapse.

8th June 2016 - DATA SHOWS CLIPSAL 500 AS THE MOST SUCCESSFUL V8 SUPERCAR RACE IN AUSTRALIA

30th April 2016 - VIRGIN AUSTRALIA SECURES NAMING RIGHTS FOR V8 SUPERCARS

19th May 2015 - FEDERAL GOVERNMENT BACKS SOUTH AUSTRALIAN MOTORSPORT PARK WITH $7.5 MILLION FUNDING

3rd March 2015 - HUGE ATTENDANCE OF 285,000 AT 2015 CLIPSAL 500 ADELAIDE

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.