ANDREW Baker conceded his bid for a seat on Clarence Valley Council all but ended on Monday night when he announced to a packed candidates forum in Maclean that two of his companies had gone into receivership.
"I didn't want to start tonight on false pretences," Mr Baker said.
"Today, two of the companies I'm a director of have been placed in receivership.
"I'm in the development industry and everyone knows the development industry is doing it tough."
Mr Baker said the development didn't legally rule him out as standing as a candidate, but conceded it would be difficult for him to continue.
The announcement was made during candidates' opening speeches at the beginning of the forum.
Each candidate was given two minutes to speak but Mr Baker requested an extra minute in order to make his announcement.
However, some of the crowd objected strongly to the request and Mr Baker accepted the decision.
A full report will be available in Wednesday's edition of The Daily Examiner.