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Business News Live Business
Big Chill company goes under
By CMU Editorial | Published on Tuesday 20 October 2009
The company behind the UK’s Big Chill festival has entered into voluntary liquidation, though it won’t affect the future of the main Big Chill event because, as previously reported, the festival itself and the core creative team behind it was recently acquired by Festival Republic.
Chillfest Limited entered into voluntary liquidation on 15 Oct, with the administration of the company being overseen by Ian Sykes of Vantis Business Recovery Services. Following the sale of the rights to the Big Chill name to Festival Republic, which happened before the liquidation, Sykes will now look to sell off any other assets that may help repay creditors. It’s not clear how many suppliers to the festival will be negatively hit by the liquidation.
Confirming the closure, Sykes told reporters that a failure to make the 2009 event cover its costs led to the collapse of Chillfest Limited. Sykes: “The company sold insufficient tickets to cover the cost of the 2009 Big Chill festival and the parent company was unable to provide any further financial support”.
