Promoters and suppliers high on SFX creditors list
Creditors holding on for pay-outs will likely see bankrupt SFX continue through debt restructuring as $300m is wiped from the books
News By IQ | 5 February 2016
Many of SFX Entertainment’s largest creditors are SFX-owned promoters awaiting deferred purchase price payments, according to a 476-page creditor matrix seen by IQ.
The document reveals that 11 of SFX’s 13 largest ‘non-insider’ creditors – that is, ones which aren’t associated with the company’s founder and former CEO, Robert FX Sillerman – are the owners of some of the many companies purchased by the now-bankrupt EDM promotion giant since its founding in 2012.
SFX currently lists assets of $661.614m and debts…
You've used your free article this month
Continue reading with a free account, or subscribe for unlimited access to all of our news, features and reports.
