The future of Bestival – which was held on the Isle of Wight for 13 years – is said to be in doubt due to ‘financial struggles’.
In a report by The Mirror, it is claimed Camp Bestival and Bestival are facing uncertainty after financier James Benamor filed administration notices at the High Court for Bestival Ltd, Camp Bestival Ltd, and Bestival Group.
The Mirror says Mr Benamor, whose company Richmond Group Debt Capital loaned Bestival £1.6m in February last year, filed the notices at Companies House last week.
A notice of intent to appoint administration is a document filed at court stating a company’s future plans in an attempt to save the business from liquidation. Mr Benamor also owns Amigo Loans.
Bestival had previously been held at Robin Hill Country Park on the Island before it moved to Lulworth Castle in 2016.
A statement on Camp Bestival website reads:
“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.
“Thanks and love to all our wonderful Camp Bestival community for all your support X”
Isle of Wight Radio has asked Bestival for comment.