LONDON (CelebrityAccess) — The founders of Camp Bestival reported that with a little help from Live Nation they are “back in control” of the music festival a month after it was forced into administration by creditors.
In a post on the festival’s website, founders Josie and Rob Da Bank wrote: “Josie and Rob da Bank are thrilled to finally announce today that they are back in control of Camp Bestival – the magical family festival they created 11 years ago.”
“With the help of Live Nation Gaiety and SJM we will really be able to bring more of our creative vision to life with the support structure needed going forward. Our aim has been and will always be to create the best ever family festival. We look forward to sharing this new chapter with you. More news very shortly.”
According to the BBC, the Richmond Group, one of the festival’s creditors, acquired the festival brand and its assets last week £1.1m. The festival entered administration in September, after admitting that it had encountered “financial challenges.” In August, the festival was forced to close the main stage on the final day of the festival due to inclement weather.
A court-appointed administrator confirmed that the festival completed the sale last week to Richmond Group, one of the event’s primary creditors.
Organizers have not confirmed plans for the festival’s future, but a spokesperson for Live Nation told the BBC: “LN-Gaiety and SJM look forward to working with Rob and Josie on Camp Bestival.”