Local insurance company might close after 4/20 event

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DENVER -- There is trouble surrounding Denver's annual 4/20 celebration.

Locally owned company SBI Insurance said Santino Walter of Civic Center Productions who was contracted to produce the event still owes more than $10,000 for event coverage.

SBI co-owner Nadyne Huber said if her company doesn’t receive the amount due, SBI faces the possibility of defaulting on a contract with the insurer that could close the business for good.

The deadline for SBI to satisfy the contract is Friday.

“I feel sick to my stomach and I want to just sit down and cry, but I know that won't solve the problem,” Huber said.

Huber said she still hopes Walter will come forward before the deadline, but will likely have to take out a high interest loan to cover her losses.