Liquidation final act for NSW theatre company

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A New South Wales theatre company has been placed into liquidation following the withdrawal of government funding.

The Riverina Theatre Company (RTC), based in Wagga, was once the largest professional acting group in the region, but now appears to have put on its final performance, the Daily Advertiser reported.

Despite losing AUD$300,000 in grants, the RTC could have perhaps survived if it had sourced further investment through a service such as an Ansarada secure virtual data room.

Vice-chairman of the RTC, Dr Keith Radford, told the Daily Advertiser: "The past four years have been a tremendous struggle and without that major funding from government sources it is just too difficult."

Mr Radford added that an extraordinary meeting was arranged to discuss the future of the group, but only 12 people showed up.

Following this disappointment, he concluded that the RTC had apparently passed its "use-by date".

Elsewhere in New South Wales, the auto parts firm Drivetrain Systems International recently went insolvent after dismissing 200 employees, ABC News reported.