The largest events company in the region has called a meeting of creditors following the collapse of the business.
Benchmark Communications had managed major events and exhibitions, regionally and nationally since it was founded, including the NewcastleGateshead Arts Fair, the annual IT Works event, the Great North Sports and Fitness Show in Newcastle and national conferences and events in Liverpool, Manchester, London, Nottingham and Glasgow.
The Newcastle-headquartered firm, established 20 years ago, employed around 20 staff at its height but over time that team has been reduced to nine.
Tough trading conditions are believed to have been responsible for the company staging fewer events in recent times, impacting heavily on its financials.
It is understood the Benchmark’s bank withdrew its facilities and it is now poised to go into liquidation.
Executive chairman Vincent Woods told the nine employees that the business has failed at a meeting last week.
It is believed the business was on the verge of being sold to a new owner last year, but the deal fell through at the eleventh hour.
Now Robson Scott Associates of Darlington have stepped in to take over the firm’s affairs.
A meeting of creditors has now been called for this Friday, February 28, at the Robson Scott offices.
A statement issued by Woods on the London Gazette said the meeting is: “For the purposes of having a full statement of the position of the company’s affairs, together with a list of creditors of the company and the estimated amount of their claims.
“To be entitled to vote, creditors must lodge a proof of the debt claimed and unless claiming personally, they must also submit a proxy which must be lodged not later than noon on the business day immediately prior to the meeting at the offices of Robson Scott Associates.
“A list of names and addresses of the company’s creditors will be available for inspection at the offices on the two business days prior to the meeting.”