DUBLIN (CelebrityAccess MediaWire) — Irish promoter Pod Concerts has gone into liquiditation after proving unable to meet its obligations to creditors.
The axe came down on Pod after a creditor meeting that came ahead of a scheduled petition by Revenue Commissioners in the High Court to "wind up" the firm after they were unable to pay their remaining tax debt of €800,000, the Irish Times reported.
Pod operated a string of six venues and had been the company behind several major UK festivals, including Midlands (in 2006 & 2007,) The Lovebox Dance Music Festival (2007) and the Electric Picnic music festival until 2008.
The sale of their stake in Electric Picnic to Festival Republic helped to pay off many creditors as well as some of the tax debt.
John Reynolds, the company's founder, is still producing shows at his venues in the coming months, including a string of dates by Leonard Cohen at The Odyssey Arena but Pod said in a statement that it was no longer associated with any shows produced by Mr. Reynolds. – CelebrityAccess Staff Writers