Budget Shortfall for Major Rockford Event Managment Company

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Money troubles for the company that books acts for three Rockford venues means layoffs and a cut in customer services.

Centre Events brings hundreds of shows and sporting events to the Forest City each year, but could financial problems change that?

Centre Events manages the Metro Centre, Davis Park and the newly renovated Coronado Theater. But the management company has learned it's $1.2 million in the hole, after a year of unexpected labor costs and a drop off in revenues. The shortfall means five layoffs and the elimination of box office service at the Coronado. One of the big problems stems from miscommunication with entertainers over $700,000 in labor costs.

"We did enter into some agreements without us fully understanding what that entailed. It's not the clients fault. It's our responsibility so we need to understand exactly what the event needs. If we have to subsidize an event we need to know ahead of time we don't want to be stuck afterwards saying we didn't catch that,” says Centre Events Assistant Manager Corey Pearson.

Pearson says the changes should not affect the quality of attractions, and the new setup should actually bring better events to the city and avoid any financial oversights in the future.