Genk (Brussels Morning Newspaper) – M@G in Genk keeps only Limburghal open; drops C-mine, Thor Central due to financial troubles. Anita Laporte leads the June 15 business plan; Thor Terrazza, Partaasch stay open.
As VRT News reported, M@G, a company Meet@Genk managing event venues in Genk, is making big changes because they are in financial trouble. They will only keep running the Limburghal in the city centre. They will stop using C-mine in Winterslag and the main building of Thor Central in Waterschei. This decision was made because M@G ran out of money and had to start an “alarm bell procedure.”
Officials mentioned that they must create a new business plan by June 15, 2025. They looked closely at their financial records from recent years and the first part of this year. The Limburghal is doing well, with many events booked by people, groups, and organisations.
However, C-mine and Thor Central have struggled. Unlike the Limburghal, which serves the public and has grown steadily, C-mine and Thor Central have faced ongoing challenges they couldn’t solve.
“We looked at our 3 locations in detail. We had already let go of the Barenzaal at C-mine, because the hall did not generate enough revenue compared to the high costs. Thor Central is struggling with the same problem.” Annita Laporte says.
Will M@G Genk’s new plan secure its financial future?
Anita Laporte says that C-mine and Thor Central lost money because of big problems outside their control, like COVID-19 and the energy crisis. Thor Central, which hosts corporate events, hasn’t recovered since the pandemic, with fewer bookings than before.
C-mine, which hosts weddings and parties, has high costs that are hard for both the company and the customers. Also, high energy costs have made things worse for both places. Because of less demand and more expenses, M@G had to focus on the Limburghal, where things look better. The new business plan, due in June, will focus on the public and community events at the Limburghal.
The Autonomous Municipal Company M@G in Genk is currently reviewing its finances and how it’s organised, but this isn’t directly because of the ongoing investigation into a former director suspected of fraud.
The chairman has stated that the company is proactively dealing with the financial damage it has faced. They understand that if recovery efforts don’t work out soon, the financial situation could worsen.
To address this, M@G is carefully examining all its income and spending to create different plans for the future, including a “doomsday scenario” that looks at the worst possible outcomes. These plans are designed to ensure that even if the company faces severe financial stress, it can still cover all its costs and have enough cash on hand to meet its monthly obligations.
“The catering establishments Partaasch and Thor Terrazza will also remain open. In other words, the operation of the main building on the site will remain guaranteed,” assures Laporte.
M@G is also working on long-term plans for its important places, especially Thor Central, which is on the old mining land. People can still visit Thor Central as usual. M@G will soon look for a new company to run the main building, working with the current partners to make the change easy.
The city is also thinking about what to do with other important places, like the Barenzaal and the restaurants at C-mine in Winterslag. They want to find ways to improve these places or use them for business to help the city’s culture and economy.
According to officials, this mix of fixing money problems, checking how things work, and making plans is meant to keep Genk’s important cultural and historical places going strong for a long time, making sure they keep doing good things for the people who live there.
