Latest News

Back to Latest News back


Liquidators says Ticket Rocket lacks funds to pay creditors

Liquidators says Ticket Rocket lacks funds to pay creditors
January 18, 2021

Liquidators responsible for the affairs of Ticket Rocket have presented a grim prospect for unsecured creditors, expressing doubt over whether all owed money by the Dunedin-based ticketing business will be paid.

Released before Christmas, the first report from liquidators Rodgers Reidy listed over 1500 creditors owed more than $8 million including New Zealand’s Ministry of Social Development and New Zealand Post.

Companies associated with Ticket Rocket were placed in receivership in August, after reports the ticket agent was not paying refunds for events cancelled due to Coronavirus lockdowns.

One of those companies, Fortress Information Systems Ltd (the company behind Ticket Rocket), was subsequently placed in liquidation in October over debts owed to the Hurricanes and Crusaders Super Rugby franchises.

The Hurricanes were owed $186,000 and the Crusaders $155,000.

Fortress has also had $676,000 frozen by the High Court after an application from the Palmerston North City Council a move the company tried to keep secret.

Some financial information on Ticket Rocket’s collapse was made public after the first receiver’s reports were issued in November, including that associated companies collectively owed at least $8.4 million.

Control of the ticketing company’s fixed assets is now with receivers BDO who, after the liquidation is completed, will sell any “residual assets”.

Reports have suggested BDO aims to sell Ticket Rocket as a going concern.

However, with secured creditors - including BNZ, Dove Electronics, Smartpay Rental Services, Windcave New Zealand and the Crusaders’ rugby organisation - to be paid first, liquidators said it was unlikely that there will be money remaining to pay unsecured creditors owed a combined $3.17 million.

An investigation will also be carried out to check if any trading happened while the company was insolvent.

The liquidators said they would carry out a full investigation into Fortress Information Systems’ affairs but a release date for that is not given.

The first receivers’ report found Fortress Information Systems and its subsidiaries Dash Group, Dash Tickets and Dash Tickets Australia had $8 million in debts with a little less than $3 million in assets.

Receivers BDO were being left in charge of the company’s assets, with anything left after the receivership to be taken care of as part of the liquidation.

Ticket Rocket Director, Matthew Davey is reported to have told liquidators the ticket company’s failure was due to the Coronavirus pandemic and the Palmerston North City Council freezing order.

Although the liquidator was looking if there were ways to recover money for the business, it already had received a claim from Inland Revenue for $512,164 in GST and income tax arrears.

Image: Ticket Rocket’s office in Dunedin.

Related Articles

16th December 2020 - Coronavirus halted booming year for Australia’s live music sector

22nd December 2020 - New statistics show importance of tourism to New Zealand’s recovery

1st December 2020 - BEIA Showcase brings together over 420 event organisers and suppliers from across New Zealand

11th November 2020 - Receivers advise that Ticket Rocket debts exceed $8 million

22nd October 2020 - Ticket Rocket entities to be liquidated over unpaid debts

15th October 2020 - Ticket-holders unlikely to get refunds from failed Ticket Rocket

2nd September 2020 - Dunedin-based Ticket Rocket enters receivership

24th May 2018 - TicketDirect introduces new Ticket Rocket brand in Australia and New Zealand

3rd November 2020 - Super Rugby’s Chiefs announce new ticketing partnership

28th September 2020 - New Zealand welcomes return of international sporting events

10th September 2020 - Entertainment and events industry leaders say New Zealand Government is letting the sector ‘slowly die’

6th June 2020 - Dunedin’s Forsyth Barr Stadium ready to claim world first with return of fans

10th November 2017 - Highlanders’ Super Rugby fixtures deliver near $2 million boost for Dunedin

4th December 2015 - TicketDirect founder Matt Davey leads new Highlanders ownership

16th July 2014 - Ticketing revolution for New Zealand provincial rugby

3rd September 2013 - TicketDirect’s acquisition of Dash Tickets to enable growth in New Zealand ticketing sector

Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.


supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Yellowbox Lockers

Yellowbox is an Australian technology company that has developed smart locker technology operated through an app with a focus on experience for users and facility managers. Found at Beaches, Aquatic…

read more

Aquatics / Attractions / Entertainment / Retail / Security



Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues



Humanforce is a global provider of workforce management solutions for companies who need flexibility to manage complex workforces. Companies use Humanforce to manage everything from time and…

read more

Hospitality / Retail / Technology / Venues


Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks



Intelligenz provides Leisure Management Software for managing all your Program Registrations, Facility Bookings, Membership Sales and POS Transactions; including detailed Reporting, automated…

read more

Access / Billing / Finance / Marketing / Technology


TicketSearch Pty Ltd

TicketSearch is focused on providing businesses, organisations, and venues with affordable, efficient, and powerful self-managed ticketing solutions. The organisation has offices in Australia, New…

read more

Attractions / Entertainment / Technology / Ticketing / Venues


Centaman Entrance Control

Turnstile Entry Systems and Access Control Centaman Entrance Controls’ Award Winning Range of Access Control Systems includes tripod & triarm turnstiles, speedgates, full height…

read more

Access / Entertainment / Sport / Ticketing / Venues


get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business