SA Motorsport Board and GWS Giants among list of creditors of embattled lighting business Vailo

The SA Motorsport Board, the University of Adelaide, the AFL’s GWS Giants, banks and the Australian Taxation Office are among a list of creditors seeking redress from failed lighting company Vailo.

Creditors of the Adelaide-based company, which entered receivership in early March, also include local sporting groups and a number South Australian companies.

A new report on the company’s activities and property filed with Australian Securities and Investments Commission (ASIC) shows that more than 160 unsecured creditors are owed close to $5 million following by the business.

AFL clubs and the SA Motorsport Board, the South Australian Government body behind the Adelaide 500 Supercars event are shown to be emerged the largest creditors of the failed lighting company.

The report also shows that more than 40 employees are chasing more than $700,000 in unpaid entitlements.

Vailo’s sponsorship of the Adelaide 500 ended in March after receivers were appointed, with the event to know be known as the bp Adelaide Grand Final.

Last November, a week before the 2024 Vailo Adelaide 500, South Australian Premier Peter Malinauskas claimed Vailo founder and Director Aaron Hickmann had “met his obligations’’ with regards to the company’s ongoing sponsorship of the event.

However, as reported by Adelaide’s The Advertiser, as of last Thursday a South Australian Government spokesman said that the situation had since changed, and that the South Australian Government was now working through a “reconciliation” of the outstanding debt, which was complicated by the fact that part of the sponsorship deal involved Vailo providing large video screens and other equipment rather than cash.

The spokesman added “as previously discussed, the South Australian Motorsport Board is in a process of reconciliation regarding Vailo and looks forward to a resolution.”

Meanwhile, AFL clubs Greater Western Sydney and Hawthorn claim they are owed $406,656 and $82,500, respectively, having partnered with Vailo on sponsorship deals in recent years.

GWS announced in February 2023 that Vailo had been secured as a major partner of the club, with its training facility at Sydney Olympic Park known as the Vailo Community Centre.

Hawthorn extended its partnership agreement with Vailo in April last year following an initial two-year agreement with the club’s men’s and women’s programs.

Other major creditors include the University of Adelaide ($150,700), Football SA ($55,000) and the Norwood Football Club ($30,795).

The report does not disclose the debt to secured creditor National Australian Bank, which called in receiver Robert Hutson from KordaMentha in March to take control of the company. The Taxation Office is understood to have not yet lodged its claim.

The Advertiser advised that Hickmann had said he was working on a rescue plan to take back control of the company.

Hickmann was named South Australia's top young entrepreneur in the annual 40 Under 40 awards run by InDaily in 2021.

Image: Vailo founder Aaron Hickmann (top) and the company's sponsorship announcement with the Hawthorn Football Club (below).