Another festival eaten up by Festival Republic.
Chillfest Limited, the London-based organiser of festivals, entered into voluntary liquidation on 15 October 2009. Ian Sykes, Client Partner from Vantis Business Recovery Services (BRS), a division of Vantis, the UK accounting, tax and business advisory group, is the appointed Liquidator.
The company, which operated its first festival in August 2003, has ceased to trade and is being wound up. Rights to hold future festivals had been sold to Festival Republic prior to the liquidation and the Liquidator is now working to maximise realisations from the remaining assets for the benefit of the company’s creditors.
Ian Sykes commented: “The company sold insufficient tickets to cover the cost of the 2009 Big Chill festival and the parent company was unable to provide any further financial support.”