SUMMERNATS company goes into Liquidation

[Quasi]

Originally Posted by CPOCSM

I went to the first event when it was the Van Nationals - totally different experience and the Summernats seemed to lose its lustre at about the 10 year mark for me...hence I stopped going until this year...pity nothing has changed.

That was not the Summernats, it was a different event completely.

Forerunner to the Summernats was the ASMF Nationals (run by Chic as an officer of the federation), which took place every two years. The Summernats was born out of a difference of opinion over certain things between the ASMF and Street Machine magazine. In the end the magazine and Chic came to an agreement and the first Summernats, an annual event, took place in 1988.

The ASMF Nationals continued on as a seperate event, but the Van Nats may have been tied up with the earlier ASMF event.

[GreenMachine]

How do you liquidate Summernats? Surely they don't own anything... Wonder if the new owners took on the debt or if a deal was done to keep it at EPIC.

[Buzz Box]

Originally Posted by GreenMachine

How do you liquidate Summernats? Surely they don't own anything... Wonder if the new owners took on the debt or if a deal was done to keep it at EPIC.

That was my thought the event organisers wouldn't own anything more than stationery, a few desks and maybe a phone or two?

Everything is rented/leased

[Quasi]

Street Machine Services is a business just like any other.

There are several full time employees, a couple of contractors, and many, many, part timers and casuals that the company employs. Apart from furniture and PCs, there is a large volume of merchandise, car parts, and a variety of of other assets. Also, let's not forget the investment by the company and sponsors in the burnout/go-whoa track. This alone represents a high dollar value, and the agreement with the EPIC organisation (ACT Royal Agricultural Society I believe) would still be a responsibility of the company, and whoever has taken over.

Just because they use leased premises on EPIC land (and leased workshops in the industrial areas) doesn't mean any less of any other business in the same situation.

What brought this about? In a nutshell I can tell you that insurance premiums played a huge part in the unbelievable overheads in running an event of this magnitude. Add to this growing resistance from a sector of the community over the last 20+ years, and the ACT governments unwillingness to show any backbone whatsoever, and this was inevitable.

Above all else the event appears to have been secured for the next two years, and perhaps beyond, and that is what should be important. The next thing most will want to know is whether these changes will mean a change in policy regarding booze and behaviour....I think not.

[CPOCSM]

Originally Posted by Quasi

That was not the Summernats, it was a different event completely.

Forerunner to the Summernats was the ASMF Nationals (run by Chic as an officer of the federation), which took place every two years. The Summernats was born out of a difference of opinion over certain things between the ASMF and Street Machine magazine. In the end the magazine and Chic came to an agreement and the first Summernats, an annual event, took place in 1988.

The ASMF Nationals continued on as a seperate event, but the Van Nats may have been tied up with the earlier ASMF event.

Agree but they used the Van Wheels mag as a forum to tout the summernats. Things were a lot simpler then and a lot more fun! Kombis winning best of show - would never see that nowdays.

Hooroo