The party might be over for former island festival, Bestival possibly leaving Island businesses out of pocket.
Several Island-based businesses including Widget Productions are understood to be in the employ of Bestival and will be nervously awaiting further news on the festival’s financial situation.
The Sunday Times reported on Sunday (September 23) that James Benamor had filed notices at the High Court of his intention to appoint administrators to Bestival Group, Bestival Ltd and Camp Bestival.
Mr Benamor’s company, Richmond Group Debt Capital, extended a loan of up to £1.6 million to the festival and took control of some assets last year.
Bestival organisers have declined to comment in the IW Observer, despite attempts to contact directors John Hughes and Rob Da Bank directly.
Widget Productions who manage a lot of Bestival’s production work said they could not comment at this time.
Tickets for Bestival 2019 were on sale until very recently, raising questions over whether or not buyers could be left out of pocket.
Bestival was held on the Isle of Wight until last year, when it moved to Lulworth Castle, Dorset.
Richmond Group and Bestival have been contacted for comment.