Bestival faces financial challenges and an uncertain future
Dorset's Bestival could be facing a new challenge after sub-prime lender James Benamor files for administrators to be appointed across the company.
Rob da Bank's annual Bestival is walking on uneven ground as Bournemouth's loans tycoon James Benamor has filed notices to the High Court to appoint administrators at Bestival Group, Bestival Ltd and Camp Bestival.
The news comes after Benamor’s company, Richmond Group Debt Capital, extended their loan to the festival with a sum of up to £1.6 million last February.
Bestival has been running for close to 15 years, having started in 2004 through Rob Gorham (Rob da Bank) and his wife.
2018's Camp Bestival cancelled its final day due to severe weather warnings, and had issued refunds for the festival by 12 September.
Tickets are on sale for the 2019 event already. The Sunday Times reported that organisers are already looking for new investors. Camp Bestival's website states, "We can confirm the Bestival Group has had some financial challenges of late but the process we are in allows a new partner to come on board with the financial commitments required to deliver Camp Bestival 2019 in its finest form. As we stand currently, there is every intention to make this show happen, and move forward into a new era."
The festival used to take place on The Isle of Wight, and only moved to Dorset in 2017.
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