According to the documents submitted last week, billionaire James Benamor has threatened to appoint administrators for Bestival Group, Bestival Ltd and Camp Bestival. It has also been revealed that one of his companies, Richmond Group Debt Capital, extended a loan of up to £1.6 million and took control of some of the festival assets last year.
Although Bestival relocated from the Isle of Wight to Dorset in 2017 after 13 years at Robin Hill Country Park, the event remains in the hearts of Islanders. This week’s news that the plug could be pulled on the 2 events will no doubt come as a shock to many.
Founder and Curator, Rob Da Bank, has previously stated that the ‘boring economics of getting people on to the island’ is the reason he relocated the event to the mainland. But things don’t appear to have worked out…
Bestival organisers say they are unable to comment on the situation at present. However, a statement has been released on the Camp Bestival website that they have every intention to make next year’s event happen. The same statement does not appear on the Bestival website, leading to uncertainty on whether both events will be axed, just 1 or none at all.
The statement 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”.