Promotions runs out of Power – Metro US

Promotions runs out of Power

Promoter Harold MacKay says he doesn’t know why this summer’s concerts on the Common failed to bring people in.

“Those are the ones that hurt us,” said MacKay, adding things have been tough all over for the concert industry this year.

While that may be true, it was this summer’s Common concerts headlined by Black Eyed Peas and Alan Jackson that marked the first time MacKay’s company, Power Promotional Events Inc., failed to pay the bills.

MacKay has been circulating an email to his creditors saying Power Promotional will not be able to make good on its debts.

In the email, MacKay wrote Power Promotions has experienced a “significant cash flow short fall” and the company “apologizes for not being able to fulfill (its) obligations.”

“We’re just telling people we closed shop and we’re dealing with the creditors one on one,” MacKay said yesterday.

He refused to reveal the number of creditors owed and the dollar values.

“We’re not giving the amounts out or nothing,” he said.

MacKay has not released exact ticket sales for either concert, and says he is contractually obligated not to do so.

He continued to assert, however, the economic spinoff of the sometimes controversial events numbered in the “millions and millions” of dollars.

MacKay also said he hasn’t given up on the promotions industry.

“We’ve learned a lot … it’s hard to say what the future holds.”

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