Signature 27, headed by Melanie Cairns, was responsible for the first Burley Griffin Regatta on Lake Burley Griffin in December, which made a splash with its strict dress code and $90 garden party tickets but attracted only a modest crowd.

Liquidator Frank Lo Pilato, a director of RSM Bird Cameron, said the regatta ultimately sent Signature 27 under, with 1200 to 1400 guests expected but only 300 paying customers turning up. The company had 37 creditors owed collectively almost $345,000. Barlens Event Hire is owed the highest amount - more than $140,000. Mr Lo Pilato said none of the creditors, which also included food and wine suppliers, a security firm and a multimedia company, would be receiving any dividend.

Signature 27 offered services including sponsorship consultancy, event creation and implementation and talent procurement and management.

A meeting of creditors on Thursday was attended by Mr Cairns.

The Burley Griffin Regatta was billed as an opportunity for Canberra's fashion conscious to enjoy a Pimm's by the lake as they watched the rowing but it had only a lukewarm response. Celebrity Charlotte Dawson helped to judge the fashions.

Mr Lo Pilato suggested the first event might have gone out too big, too soon.

''I think they expected people to turn up but Canberra didn't embrace that kind of event on the day,'' he said.

Snowy Hydro SouthCare Rescue Helicopter Fund chief executive officer Owen Finegan said the fund paid to use the same marquee and other facilities such as toilets for its annual charity ball the night before the regatta in a kind of leasing arrangement with Signature 27.

Mr Finegan said the fund had paid all its bills and had not been caught up in the demise of Signature 27.

He said the first ball by the lake had been a huge success for Snowy Hydro SouthCare and the fund wanted to stage it again in December. It would look at partnering again with another organisation which might

use the facilities for a Christmas party on another night. Signature 27 had also promised to donate 5 per cent of ticket sales from the regatta to Boundless Canberra, which is working to build Canberra's first all-abilities playground. Boundless Canberra board member Natalie Howson said on Thursday Signature 27 had honoured that commitment and the association had been grateful for its support.

Mrs Cairns grew up in Canberra and the couple moved to the national capital in 2011 after discovering their then infant daughter Isabel had profound hearing loss. They wanted to be close to the Shepherd Centre for deaf and hearing impaired children and Mr Cairns had helped raise funds for the centre.

Mrs Cairns was not available for comment on Thursday but it is understood the couple wish to stay in Canberra.