LONDON (CelebrityAccess) – The future of British musical festival Bestival appears to be uncertain as the company behind the annual event is reportedly being put into administration.
According to The Sunday Times, loans tycoon James Benamor whose company Richmond Group Debt Capital extended a loan of up to £1.6m to the festival back in February of last year, has filed the administration notices with the High Court.
If the filings are approved, everything under the Bestival umbrella including Bestival Group, Bestival Ltd, and Camp Bestival, will fall to court-appointed administrators.
Bestival was originally launched in 2004 and took place annually on the Isle of Wight. The festival relocated to Dorset in 2017.