Mon, 07 Jul 2014 | BUSINESS NEWS
The Camden Crawl music festival has gone into voluntary liquidation, the founder has announced.
Lisa Paulon has released a statement revealing that she has placed the company behind the indie music festival – Crawl Promotions Ltd – into liquidation, just weeks after it celebrated its 19th anniversary. She said that an unforeseen fall in ticket sales meant that the company could not pay its debts to suppliers, staff or directors.
Founded in 1995, the annual Camden Crawl festival has been a key date on the indie music calendar for almost two decades. In this time it has welcomed the likes of Amy Winehouse, Florence and the Machine, Adele, Disclosure and Mumford and Sons to perform on its stages.
Having not run last year, the event returned on 20-21 June this year across 25 different venues in North London. It is thought that many of the bands that played at the festival, which was rebranded CC14, have not been paid.
The statement read: "As it stands the total debts substantially exceed the value of the assets of the company. Because of this completely unanticipated situation and after nearly 10 years of successfully promoting the Camden Crawl festival, it is with great regret and sadness that there has been no other option than to convene meetings for the purpose of placing the company into Creditors' Voluntary Liquidation.
"An Insolvency Practitioner has been appointed to assist in this process… Once the company is in liquidation and a liquidator is appointed, the liquidator will realise all assets, try and agree all creditor claims and if possible make a distribution (paying a portion of the debts due to all creditors)."
______________________________________________________________________
Related information:
Business acquisition funding
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.