Business News Gigs & Festivals Legal Live Business

Administration papers reveal what artists were owed by Bestival

By | Published on Monday 3 December 2018

Bestival

Paperwork filed after the Bestival company was recently forced into administration reveal what monies were owed to an assortment of artists who played at the main Bestival festival this year.

In papers filed by administrators Begbies Traynor, it was revealed that headliners of the main Bestival festival this year, London Grammer, were owed £175,000 when the company collapsed.

Other artists still due fees from the festival firm included Plan B (£105,000), Mura Masa (£70,000), First Aid Kit (£38,500), Rudimental (£24,500), Mabel (£12,000) and Mike Skinner (£8500). Vic Reeves was due £300 for performing a reggae set while comedy outfit Kurupt FM were due a whole pound.

One of the Bestival Group’s money-lenders forced the struggling festival business into administration back in September.

That finance firm, the Richmond Group, bought the company out of administration, initially saying it planned to directly operate the more family orientated Camp Bestival event moving forward. But then an entity backed by Live Nation and SJM – and led by Bestival founders Rob and Josie Da Bank – in turn bought the business from Richmond.

A spokesperson for the administrators told the Bournemouth Echo that it’s still not known what, if any, the various creditors will see of the monies they were owed.

When the Bestival Group went into administration, in addition to the artists and suppliers who were owed money, many festival-goers were still awaiting refunds after bad weather caused the final day of Camp Bestival 2018 to be cancelled.

In a statement on Facebook last month, the Da Banks wrote: “The nature of the last few months means that the insurance money that was available to refund 2018 ticketholders … was entirely lost in the administration. This is unfair to you, our fans”.

To that end, they went on, “the new owners, [Live Nation] and SJM, understand how unfair this feels and as a result have agreed to fund discounts and refunds for 2018 ticket holders”. Details were then published on how those affected by the 2018 cancellation could claim a refund, or a free ticket or discount for the 2019 event.

That same statement again confirmed that Camp Bestival 2019 will definitely go ahead, now promoted by the all new Bestival company. Tickets for that festival were already on sale at the time of the administration. However, there is still no word on the future of the other Bestival Group events, the main Bestival and Common People.



READ MORE ABOUT:

SIGN UP GO PREMIUM CMU NEWS CMU DAILY CMU DIGEST CMU TRENDS SETLIST