Michael Edgley Bankrupt

Michael Edgley, a top Australian concert and theatre promoter before he retired to dabble in property development, has gone into bankruptcy, owing $7.3 million.

Taking over the family musical theatre business in 1967 at the age of 23, Edgley toured acts including the Moscow Circus, Cirque du Soleil, Billy Joel, Ike & Tina Turner, London’s Royal Ballet, the Bolshoi and Kirov Ballet companies, and Torvill and Dean.

During this time, he renovated luxury properties with success. In 2007 his move full-time into property development was affected by the global financial crisis.

“I’m not turning my back on my creditors. I’m endeavouring to work through the situation,” he says.