Common People Festival falls into administration

04 February 2019 Consultancy.uk

Corporate rescue and restructuring consultancy Begbies Traynor has been appointed administrator for the Common People Festival. The company behind music events in Oxford and Southampton owes creditors more than £500,000, and it is unclear whether it will be able to clear these debts during the liquidation process.

With consumer power having been severely impacted by stagnant wages and increasing household debt, many aspects of the UK leisure industry have been impacted in recent times. Even the music festival scene, which attracts roughly 14 million visitors to the UK every year, has taken a hit.

Last year, one of the 10 largest music festivals in the UK folded, following an expensive relocation to the Lulworth Estate in Dorset. The group behind Bestival collapsed into administration in September 2018, just months after the latest instalment of the event – which was headlined by the performers Chaka Khan, Grace Jones and Thundercat. Now, another festival group, which shares Bestival’s founder, has followed suit.Common People Festival falls into administration

Organised by DJ Rob da Bank, Common People Festival’s line-up in 2018 featured The Jacksons, James, Ride, Boney M, and Lily Allen. However, the company owes £543,546, according to a statement posted with Companies House, and has been unable to continue in its current form. As a result, consulting firm Begbies Traynor has been appointed to liquidate the company.

Talking to local paper the Daily Echo, Julie Palmer of Begbies Traynor stated it is unclear as to whether the companies will be able to clear the debts. She explained that "they have got some potential" to pay off the debts before adding "if there is a recovery it won't be a particularly large recovery."

There will be no edition of the event this year, meanwhile, which will likely impact the economies of Southampton and Oxford. A spokesman from Begbies Traynor, said, “Common People (Oxford) and Common People Festival went into liquidation and the business and its assets were not bought by any other company. As a result there will be no Common People festival in 2019.”


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