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Isle Of Man festival promoter selling assets to fund ticket refunds
By CMU Editorial | Published on Tuesday 21 June 2011
The organiser of a cancelled festival on the Isle Of Man has admitted that punters getting ticket refunds is dependent on him selling off assets.
The Bay Festival was due to take place on the island last weekend, with Tinie Tempah and Westlife set to headline in what would have been the event’s second year. But organisers announced in May the event was being cancelled because of poor ticket sales. They also blamed the island’s government for failing to support the event, and for pursuing a dispute with a sister company which, promoters said, distracted them when they should have been publicising their festival.
Initially ticket holders were told they’d get refunds for sure, but with ticket agent HMV having already handed over revenues to promoters, who had in turn paid it on to artists and service providers in upfront payments, organisers are struggling to make good on that promise. Local media have reported that at least one festival-goer has told them their refund cheque bounced.
However, promoter Jonathan Irving – who, despite initially saying he hoped The Bay Festival could return in 2012, now says he has no future plans to stage an event on the island – says he hopes to dispose of some of this company’s assets so it can refund ticket buyers by the end of next week, though he added that at this stage he wasn’t able to make guarantees.
