Business News Gigs & Festivals Live Business

Wheels & Fins festival to go into liquidation

By | Published on Tuesday 1 October 2019

Wheels & Fins

A month after its last minute cancellation, Kent’s Wheels & Fins festival has announced that it is going into liquidation.

Efforts had been made to rescue the company behind the event after poor ticket sales forced organisers to pull this year’s edition just days before it was due to take place. However, attempts to raise new investment to cover losses and allow the festival to return in the future were unsuccessful.

“Over the past weeks … we have worked tirelessly, meeting with new investors and legal representatives to try and salvage Wheels & Fins, but it is with an unbelievable amount of sadness that we must inform you that the festival will be going into liquidation shortly”, say organisers in a statement. “We have tried everything to avoid this outcome but have been unable to find a solution – to say we are devastated is an understatement”.

“We have poured our hearts, souls and personal finances into the event as well as leaning heavily on private investors and friends”, they continue. “The pressure of trying to deliver an independent festival which Kent could be proud of has been immense. However, there is no avoiding the reality of our situation – poor ticket sales mean that Wheels & Fins is no longer financially viable nor attractive to an investor”.

The collapse of the company means that ticketholders will not directly receive the refunds it had been hoped could be secured for them. “This is the worst part for us”, say the organisers. “Being unable to refund our audience, the people who have stuck by us and supported the festival, is a very painful experience for us, both as people and event organisers”.

Creditors will receive notice from the official receivers in due course.