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Wednesday, 26 September 2012

Guilfest is latest music festival organiser to go into administration


Surrey-based festival Guilfest is the latest of the festival organisers to go into administration, following poor ticket sales for this year’s event.
In a statement on the parent company Scotty Events said: “Scotty Events Ltd regret to announce that Guilfest has ceased to trade due to poor ticket sales at this year’s event in July.
“We assess that this was down to the worst weather conditions we have experienced in history of the festival, combined with intense competition presented this year from other events. On-going matters now lie in the hands of the insolvency practitioner Leigh Adams LLP”.  Guilfest had been running for many years so it was not a new operator.
Only yesterday Music Festivals Plc owned by Vince Power of Mean Fiddler fame also  went into administration.  Music Festivals Plc ran the Hop Farm and Benicassim events, amongst others.  Vince Powers firm last year made profits of £800k on a turnover of £11m.  
There is no doubt that the poor weather had a major impact on the festival scene this year but there has been such an explosion of new operators that there were too many organisers chasing too few tickets.

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