WIRF

[Kiss-me-Kate]

I received this message on facebook. 


http://www.leadertelegram.com/story-news.asp?id=BI99GDU2GD5

[DeadBishop]

Wonder how they dropped the ball on this?  You'd think that the majority of revenue coming in from ticket sales would have gone back into paying for the loans and have them nearly paid off at this point.  Sure hope they get their act together.  Would hate to see a new faire like that close up.

[Leyla]

When I first saw the thread title I thought, "are we getting this organized already???" hehe.
Read the article, Yowza!  15.25% interest rate on $845,000??  I can't imagine what those payments must be like.

[Marietta Graziella]

Here's hoping this gets sorted out.  Countless people have worked so hard and diligently to pull that faire together. 

[groomporter]

I wonder if someone from A-1 Excavating was the contractor that supposedly originally was on the event's board?

Rumor Mill Warning. Word was that a contractor on the board was the reason they originally expected all crafters to build permanent buildings after two years of being there and that the contractor was hoping to build most of those booths, and that they relaxed things after he was no longer on the board. Here Ends this Rumor Mill Warning

[Vexed Viscount]

The original interest rate was 'only' 10%. It defaulted to 15% for, I imagine, late payments. I not sure why there would be late payments, however, since 50k tickets (3 year's worth) @ $17 each is about $850k all by itself.

Regardless, I'm sure they have little to worry about. They can get a bailout from the government. The new administration's rate hike on my taxes alone should cover it.

[Muffin]

Sheesh!!! For the amount of money that little faire charges and for what they provide they should not be in this position!!! 

[groomporter]

Yeah, but there's no telling what kind of salaries the organizers may be paying themselves off the top, or what other loans they may have taken out to get things started. Makes me awful glad that we're careful  about getting involved with new shows.

And was their attendance be down this year? Weren't gas prices pretty near the peak while they were open?

[groomporter]

Have to remember even if they foreclose, it could end up like a hostile takeover as opposed to closing the venue.

[Kiss-me-Kate]

GP and MBM both have good points.  Perhaps someone else will purchase this? Hey, it could happen.
Let us all hope.

I like the little faire, they did a pretty good job of putting on the dog and pony show from a customer's stand point.

I just feel bad for people like my Uncle who has a building there.  I hope he isn't screwed out of his investment in his building. 

And I agree, they shouldn't be bailed out.  They got themselves into this mess, they need to figure out how to fix it themselves!

[SleepyArcher]

I think that someone or a bunch of peoples were probably doing something they shouldn't have been doing and now the money is gone. How do you not pay off 800K I know you have to pay salaries of the workers and stage acts but there would still be money left over.

It's a shame too because that faire was really starting to take off. I hope they get it all figured out and whoever has to fess up and pay does.

[Muffin]

I think that someone or a bunch of peoples were probably doing something they shouldn't have been doing and now the money is gone. How do you not pay off 800K I know you have to pay salaries of the workers and stage acts but there would still be money left over.

It's a shame too because that faire was really starting to take off. I hope they get it all figured out and whoever has to fess up and pay does.

I agree.. Something stinks.... and its not the fire whip.. 

[Lady Figaro]

WIRF is such a neat little faire - I hope that they can get something worked out!!

[Lord Figaro]

Something smells rotten in the town on this one . I hope it continues though, it would be a sad thing to see it go.

[Goody]

From a 3rd party point of view:

If this Faire does open in 2009, they should seriously consider NOT having it open when TWIG or Bristol are open.

Twig is June 13 & 14 (just one wkend) and according to JBird Jr WIRF opens June 27 and runs for 3 wkends next yr (2009)