New Bestival Owners Offer Refunds for Camp Bestival 2018

Live Nation-Gaiety and SJM Concerts, the new owners of Camp Bestival, are to provide out-of-pocket 2019 ticket refunds and discounts for all 2018 ticket holders, after the loss of insurance payment following the partial cancellation of Camp Bestival 2018. during the recent administrative process.

“The nature of the past few months means that the insurance money that was available to reimburse 2018 ticket holders and the money from 2019 ticket sales have been entirely lost in administration,” reads the statement. a statement from festival founders Rob and Josie da Bank. The last day of last year’s Camp Bestival was canceled due to bad weather.

The festival, founded in 2008 and held at Lulworth Castle in Dorset, on the UK’s south coast, was forced into administration in September. Administrator Begbies Traynor then sold the event’s assets (along with those of Bestival itself, as well as several related companies) to Richmond Group, a company controlled by lending magnate James Benamor which had previously lent to Bestival £1.6 million.

The following month, Live Nation and SJM acquired those assets from Richmond Group (which had created a new company called Safe Festivals Ltdhanded over to LN-Gaiety), ensuring the future of Camp Bestival.

Since then, all parties have remained mum on the future of the da Banks’ biggest annual event, Bestival – although new documents filed by Begbies Traylor reveal that Safe Festivals owns Bestival Group Ltd and Bestival Ltd, in addition to Camp Bestival. Ltd, which means the ball is probably in LN/SJM’s court. (Safe Festivals paid £958,824 for the ventures, slightly less than the £1.1m originally reported.)

“The new owners, LN-Gaiety and SJM, understand how unfair this seems and have therefore agreed to fund rebates and refunds for 2018”

The documents also show that at the time of the acquisition Live Nation’s Ticketmaster UK was Bestival Group’s largest known unsecured creditor, owing them £1.2million.

A person with knowledge of the situation says they believe the insurance money is still in the possession of the Richmond Group, although this could not be independently verified at press time. IQ has contacted Richmond for comment.

The loss of insurance money, Da Banks’ statement continued, “is unfair to you, our fans. The new owners, LN-Gaiety and SJM, understand how unfair this seems and have therefore agreed to fund discounts and refunds for 2018 ticket holders, and will honor all existing 2019 tickets.

Anyone who has purchased a Sunday 2018 ticket can exchange it for a full refund or request a free day ticket Friday, Saturday or Sunday of Camp Bestival 2019, scheduled for July 25-28. Those who had a 2018 weekend ticket are offered a 33% discount on 2019 weekend tickets, redeemable via an email code.

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Jan G. Gilbert