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Christian Dance studio is shutting down

Christian Dance studio is shutting down

Posted November 11, 2018 08:06:18The Christian Dance Studio in Melbourne is shutting its doors.

The company, which has been in business for more than 25 years, said in a statement on Thursday that it was closing its doors because of the ongoing financial crisis.

“Our business is experiencing significant challenges with our financial position and the loss of our primary revenue stream,” it said.

“With the onset of a new economic climate, we are therefore unable to continue as an independent company.”CEO Greg Leach said in the statement that he had been forced to take on more responsibilities and that the company had lost an estimated $2 million since its founding in the 1980s.

“The company has been forced by these circumstances to look at all of our options and we are unable to do this alone,” he said.’

We’re very fortunate’The company had raised $4 million in capital from investors, including Google Ventures, as well as private equity firms.CEO Greg Lehmann said the business had grown to become a large and successful company, but he acknowledged that there were many challenges in its business.

“It’s a business where we’re very lucky,” he told ABC Radio Melbourne.

“We’ve done some great things in the past, but we’ve never been successful at the end of the day.”

The Christian dance studio was founded in 1980 by Mr Leach and his wife, Mary, as a music studio.

The studio has been open since 2001.

Topics:business-economics-and-finance,business-group,business,government-and,wealth-and‑pension,australiaFirst posted November 10, 2018 09:52:35More stories from Victoria

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