Doune the Rabbit Hole Festival Ltd, which runs Scottish music festival, Doune the Rabbit Hole, has entered liquidation.
The festival returned in July after a two-year absence and confirmed there were outstanding payments to be made to musicians that featured at the event on Cardross Estate.
It has been reported that the festival will relaunch under the new management of Festival Beverage and Property Services Ltd; the company said that it would pay any outstanding payments to artists from the 2022 event.
In a statement to STV, a spokesperson said: “Doune The Rabbit Hole Festival will take place on 21-23 July, 2023 under the new management of Festival Beverage and Property Services Ltd, who operated the festival in 2018 and 2019. All purchased tickets and payment plans remain fully valid.
“Doune The Rabbit Hole 2022 (and the company that ran this year’s event, Doune The Rabbit Hole Festival Ltd) suffered huge financial difficulty as a result of the pandemic, double roll-over, increased costs, and consumer confidence combining with the rising cost of living to affect ticket sales.
“The director has exhausted his own resources in trying to repay suppliers but after taking professional advice, this company has gone into liquidation. In spite of this situation, your feedback about the event told us it was a cultural and popular success worthy of sustaining.”
The statement added: “The new management of Festival Beverage and Property Services Ltd pledges to try to repay artists, crew and suppliers from the event in 2022 as soon as possible. Whilst in the process of restructuring, we are committed to preserving the atmosphere and essence of a well-loved, independent festival for future years.
“We will use your feedback to make Doune The Rabbit Hole 2023 the best and smoothest yet. We look forward to seeing you back in the field in July.”