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Australian Amusement Industry Faces Tough Times
Leisure & Allied Industries, having been pioneers in the Australian amusement industry and the largest distributor have today announced that due to current economic conditions, from August 1 2003 they will no longer be providing machine sales, spare parts sales and repairs/maintenance to operators and the general public. An auction held by the company last week in Western Australia where they cleared spare parts and excess equipment was a signal of their intent to cease selling. Leisure & Allied Industries will now focus their attention on their own arcade centres.
We have also been informed by the administrator, that prominent Australian operator, Happy Days Enterprises PTY LTD has been placed under administration as of July 16 2003. The Canberra based company that owns amusement centres in Canberra and street operations in three states has been placed into administration and a notice to creditors is being circulated.
The first meeting of the company's creditors took place on 23 July, where creditors who had lodged the particulars of their debt or claim with the administrator prior to the meeting, were able to vote.
Under the control of the administrator, Happy Days Enterprises has been allowed to continue carrying out it's business until the main meeting of the creditors which should be held early this month, when the company's future will be decided.
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