News: ALG Ardent Leisure Group Updates On Impact Of Covid-19 On Its Theme Parks Division, page-7

exactly - thats it.
according to the balance sheet PPE is 505m. item 6 details the breakdown 240m for theme parks, 368m main event. (note: no detail on mainevent breakdown which is strange)
rights of use assets 320m. Item 16 shows the lease to liabilities breakdown. if you net each other out they have 387k equity as at dec 2019

now reassess the assets with the recent economic changes in mind. They wont get recievables. construction will halt. current assets is about 80m
non current assets - ie PPE. on Pg 19 they state " the valuation has assumed a gradual recovery of attendances to FY16 (pre-incident) levels over the next six years, with year one attendances estimated to be approximately 66% of FY16 (pre-incident) levels. "
Then they go on to state "Fair value measurement sensitivity to 10.0% decrease in assumed attendance levels : -17.4m"

so your guess is as good as mine, but there is no way the assets wont take a valuation hit.
therefore not enough assets to cover liabilities.

the cash flow is bad as well with no revenue coming in, fair chunk of debt to maintain and those current assets we spoke about before of about 80m. Thats going to last a few months.

go have a look and the financial report: https://hotcopper.com.au/threads/ann-appendix-4d-and-hy20-financial-report.5239003/
page 9 - balance sheet