RH Entertainment Oy has applied for corporate reorganization.
RH Entertainment, which organizes concerts by, among others, 50 Cent, Blind Channel and Katri Helena, has applied for corporate restructuring.
The application has been submitted to Pirkanmaa district court on Monday, October 3.
CEO of the company Riki Huhtala tells Iltalehti by email that the reason is the company’s critical liquidity situation.
– The background of the rapid change in the willingness to pay is the sum of many events and the general uncertain situation. The company made big artist engagements for the summer of 2022, which did not sell as expected. The company also had to cancel events for reasons beyond its control, says Huhtala.
50 Cent is scheduled to perform in several different locations in Finland next month. PDO
According to Huhtala, the company aims to ensure business continuity with the restructuring.
RH Entertainment is one of the largest concert organizers in Finland. In addition to individual gigs, it also organizes festivals.
RH Entertainment also organizes Blind Channel’s concerts in Finland. In the photo, the band’s soloists Joel Hokka and Niko Moilanen. Mia Siren
Corporate restructuring, i.e. debt restructuring, is a measure whose purpose is to heal the operations of an over-indebted company. This is often an alternative to bankruptcy. Business restructuring is usually applied for due to cash flow problems and financing difficulties.
The application for corporate restructuring was submitted this week, so the court has not yet processed it. In order to enter into a corporate reorganization, the court must approve the measure.
Katri Helena is supposed to go on a Christmas tour. INKA SOVERI