Festival season took an unwelcome turn this summer after the organisers of the Camden Crawl announced they had entered into company liquidation, leaving them unable to pay the artists who had performed.
In a statement on the event’s website – which has since been suspended – they blamed the company liquidation on “ticket sales falling far short of expectations”.
This left them “unable to pay [our] debts in full to any suppliers, staff or the company’s directors and shareholders”.
Overall, they said the company’s debts stood far in excess of 100% of its value, triggering the decision to enter into a Creditors’ Voluntary Liquidation.
Insolvency practitioners have been appointed to salvage what they can of the company’s value, and any funds saved will be distributed between creditors, the organisers say.
Performers were understandably angered by the news – especially as some had covered the upfront costs of appearing at the event on the expectation of being repaid later.
One of the performers, Thought Forms, tweeted: “Thanks Camden Crawl… We paid our sound engineer, petrol, parking and food (as none was provided) but you don’t pay us.”