It used to be considered the largest most important fair in the country – but the bottom line is that Lagoa’s prestigious Fatacil has been losing money hand over fist. Now the borough’s new mayor has called for a financial audit to investigate the €700,000-worth of liabilities that have dogged the last few years.
The audit, to scrutinise the last three years of activity, will also “take into account civil responsibilities” and attempt to find answers for “some unclear situations”, Francisco Martins, president of Lagoa Câmara told Lusa news agency last week.
According to Martins, Fatacil’s debts stem from financial problems suffered by organising company, Fatasul.
He also blames Fatasul for the loss in popularity of the once “must-go-to” event.
“Mistakes were made. Raising ticket and stall prices scared away both visitors and exhibitors,” he said.
By 2015, Martins confirmed Fatacil will be in the hands of different organisers. The current system involves both the Câmara and its social services department, but the new mayor hopes for a more hands-on approach, that will not only oversee Fatacil but many other events that project Lagoa beyond its borders.
