An events shortage is forcing a restructure at the Christchurch City Council's major events company.
AMI Stadium. Photo: Photograph
Vbase owns and operates Horncastle Arena and the Town Hall, and manages the Wigram Air Force Museum, AMI Stadium and the Hagley Oval Cricket Pavilion.
However, its owner, the Christchurch City Council, said a shortage of events coming to Christchurch since the Canterbury earthquakes have affected Vbase's financial performance.
Council spokesperson Mary Richardson said the council planned to split the asset ownership side of the business from its events work.
"We think the best way to ensure our facilities are maintained to a high standard so we maximise their value and life span is to have them owned by a separate entity," she said.
Ms Richardson said this would allow the events operation to focus on improving its performance and profitability.
She would not say what Vbase's current financial position was.
"Over the next few months we will be working with the Vbase Board and staff to identify and implement the critical steps needed to make that happen."
Ms Richardson said she did not believe any current employee would lose their jobs.
The restructure is expected to happen over the coming months.