Yesterday, The Coast's business office received the following email from Harold MacKay, of Power Promotional Events:
As you are aware Power Promotional Events Inc, has experienced a significant cash flow shortfall and we have now exhausted all of our efforts to try and resolve this situation. It is therefore with much regret that we inform you that Power Promotional Events Inc. will cease operations and we sincerely apologize for not being able to fulfill our obligations to you.Power was the producer of the Paul McCartney, KISS, Country Rocks and the Black Eyed Peas concerts on the Common. As The Coast previously reported, despite a publicized attendance of 50,000, only 26,000 tickets were sold to the McCartney show, and Power Promotions lost $700,000 on the concert. Sales were so low for the Black Eyed Peas show---rumour has it that only 5,000 tickets were sold---that Power was giving away thousands of tickets in the week before the show, even scattering free tickets at Rainbow Haven Beach.
We thank you for your support over the years helping us to try and create Halifax as a destination for major events and again we regret this very unfortunate result.
The email was reportedly sent to all Power creditors, including The Coast, which is owed money for ad space. Claiming it is owed $14,699, Maritime Broadcast System filed a lawsuit against Power last week. Other creditors include Tour Tech East, Royal Flush and Commercial Tent.