Canberra based sound and lighting business Capital Sound & Lighting have announced their company retirement after 10 years providing audio visual services.
Company director Stephen Price broke the news to customers and suppliers on Friday 18 October with an email confirming retirement of the creative directors.
“After 10 years providing sound and lighting production services in Canberra, it’s time for us to retire” said the company.
“We are no longer accepting new bookings. All existing bookings will proceed as confirmed. Thank you to all the organisations that have supported our business over the last 10 years.
Capital Sound & Lighting commenced business in 2009 providing audio visual and production services to live music venues, live bands and small festivals in the Canberra region.
“The market has changed dramatically over those years” says founder Stephen Price. “There has been a substantial retraction in the corporate market, with customers no longer scheduling their annual conference annually, now more like every two or three years. We also had to deal with a reduction in our operating capital after the royal banking commission tightened lending restrictions resulting in a reduction to our borrowing capacity to finance new hire equipment.”
The business will service all existing commitments but is no longer taking new bookings. “We have contacted all current customers to confirm existing bookings will proceed as confirmed, but we are not taking any more bookings” the company said. “We leave the market as a financially stable company with no debts and all deposits on future work being honoured. This is a controlled exit from the market rather than any suggestion of collapse or insolvency.”
Capital Sound & Lighting has referred customers to alternative providers, recommending Elite Entertainment Technologies, SoundShop, Green Room and Sound Advice.
“These are all companies that we have successfully subcontracted work to in the past. They have supported our business, and we are more than happy to refer to our existing customers to these established and reliable businesses for their future requirements.”
Asked what next for the directors of Capital Sound and Lighting, the future is very optimistic. “While we are transitioning to retirement, a small portion of our business has been supporting broadcast radio stations in Canberra with their technical maintenance. The odd job looking after the day to day needs of broadcast studios is significantly easier than bumping out a rock venue at 3 AM. “Broadcast radio still has a strong trajectory, and in semi-retirement we’ll be available to support existing customers in this space for the foreseeable future”.
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