Live Company Group PLC (AIM:LVCG) said it is reviewing more ways to cut costs following the cancellation of a planned London KPOP event.
Staff numbers at its Bricklive operation have already been reduced to four from 23, while, through Iconic Tours, Duncan Titmarsh, a founder and former employee, has taken back control of all build and repair responsibilities for the 13 tours.
Bricklive is now solely concentrating on sales with agreements signed for 2024 and 2025.
Overall, creditors remain in the region of £3-4 million with an ongoing dialogue with all creditors with regards to repayment plans and settlements, Live Company said in a statement.
Chairman David Ciclitira, who has provided financing of £150,000 for guarantees to artists for the London KPOP event, commented: “I am very optimistic that this new structure will enable Bricklive to increase its future contribution to the group.”
Live Company is working towards completion of the 2022 annual report and 2023 interims, the statement added, which will allow shares in the group to resume trading.
The group also published a schedule of events that are pending or recently took place.