Peak body Equestrian Australia has been placed in voluntary administration by its board in a bid to avoid insolvency.
In what has been described as a “difficult decision, Equestrian Australia says the move follows the withdrawal of funding by Sports Australia – reportedly due to due to poor governance – and the impact of COVID-19 on its forecast revenue.
In a statement, the peak body advised this places the organisation at risk of trading insolvently.
“Clearly, the current EA model does not work.
“The intent of entering voluntary administration is to avoid insolvency, which would be disastrous, and to create the conditions for a successful and sustainable equestrian community into the future.”
The statement also advised that Equestrian …
Read the full article at: https://www.ausleisure.com.au/news/equestrian-australia-enters-administration-after-withdrawal-of-sports-australia-funding/
