Update: Bestival have released a statement announcing that the brand has been purchased and that the festival will be able to continue. Read the full statement below...
"Richmond Group has today made an offer of £1.1m to purchase the brand and assets of Bestival Group, with the intention of running the successful Camp Bestival going forward. RG CEO James Benamor said “We have been fans and supporters of Bestival since the beginning. Our children have grown up with wonderful memories of these festivals. Bestival is an example of Dorset being world class and we are keen to ensure that this fantastic institution goes on to delight families and local businesses, for many years to come.” Under this offer, all Camp Bestival 2019 tickets sold so far will be honoured."
The future of Bestival and its sister event Camp Bestival is hanging in the balance.
The annual English festivals could both be axed after it was revealed they were facing "financial challenges".
The companies in the charge of both events (Bestival Group, Bestival Ltd, and Camp Bestival) are owned by businessman James Benamor, who has reportedly filed for administration.
In a statement, organisers said, "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."
Bestival co-founder Rob De Bank also took to Twitter with some words of re-assusrance:
This summer, Camp Bestival cancelled its final day due to adverse weather.
Last year, Bestival were among 25 UK music festivals involved in a campaign to raise awareness for sexual assaults at music events.
Isle of Wight made its move from Isle of Wight to Lulworth Estate in Dorset in 2017.
Bestival featured as one of our Top 30 UK Events to attend last month.
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