Mardi Gras administrator Scott Pascoe today told a meeting of creditors that he was optimistic that a deal could be brokered to save the organisation.

In a written report, Pascoe confirmed that he had been working with the current board on a “proposal for the restructure of the company by way of a deed of company arrangement.”

“The object of this proposal is for the board to arrange loans from company and community supporters for the purpose of discharging the creditors debts and recapitalising the compa