Festicket administrators have provided an update six months after the festival package company fell into trouble last year. Administrators said that across this period, they had received communication from roughly 40 event promoters asserting the implied terms of their contracts with Festicket are such that the net proceeds from ticket sales were to be held …
2022 in review – September
Manchester is set to welcome a new arts venue in 2023 in the form of the £186m ($227m/€213m) Factory International, with its opening events announced in September 2022. Director Danny Boyle will use the space to launch a live production of The Matrix, while the venue will also become the permanent home of the Manchester …
2022 in review – August
Following the Lionesses’ victory in the Women’s UEFA Euro 2022, demand for women’s football tickets rocketed. England Women secured the win over Germany at Wembley Stadium in front of a record crowd of 87,192. This trend would continue throughout the year. Troubles continued for events start-up Pollen, with employees still waiting for payment in August …
Festicket owed more than £22.5m at time of collapse
Festival package company Festicket owed £22,560,175 (€25,937,322/$25,333,835) in unsecured debts to creditors before entering administration, according to a filing on Companies House. The filing shows that some of the UK-based creditors include Event Horizon, which was owed £2,290,244 and Slammin’ Events, which was left £1,346,679 out of pocket. AEG Presents was also owed £1,506,352. …
Lyte confirms acquisition of Festicket and Event Genius assets
Event technology platform Lyte has confirmed the acquisition of Festicket and Event Genius assets. Festicket recently fell into administration after filing a moratorium in an attempt to rescue the company in August. Lyte had agreed to purchase Festicket and Event Genius’ assets last month and the acquisition has now been confirmed. Festicket worked with festivals …
Administrators appointed for crumbling Festicket
Administrators have been appointed for the ailing Festicket, after the festival package company failed to come up with a rescue plan. According to a filing on Companies House, Administrators Lee Manning, Cameron Gunn and Simon Jagger of ReSolve Advisory Limited have been appointed. Festicket worked with festivals and events as official partners to provide general …
A 250% increase in complaints for Portuguese ticket-holders
Complaints surrounding ticketing in Portugal have soared by more than 250% compared to this time last year, according to Portal da Queixa (complaint portal). The project was created by a technological start-up, the Consumers Trust in Portugal. It analysed complaints addressed to online ticket offices and event production companies. Since the beginning of the year …
Lyte to acquire Event Genius assets as parent company Festicket set to fall into administration
Event Genius, which was acquired by the failing Festicket in 2019, has issued an update to its partners informing them that an agreement has been made with ticket exchange service Lyte to acquire certain assets. Last month, Festicket filed a moratorium which typically means that struggling businesses are given formal breathing room to try and …
Moratorium filed by Festicket ends, suggestions of falling into administration
A moratorium filed by festival package company Festicket has come to an end, with Companies House filings detailing suggestions from monitors that the company should enter administration. Filings show that the moratorium was ended by monitors on August 30 as ‘the company is unable to pay any of the following that have fallen due: moratorium debts; …
Festicket Moratorium hints at post-pandemic struggles
Festival package company Festicket has filed a moratorium, which typically means that struggling businesses are given formal breathing room to try and come up with a rescue plan. According to Companies House, the Commencement of Moratorium was listed today (Wednesday) and is being processed. The UK Government says that a moratorium means no legal action …