Published
Tue, Oct 23, 2018, 12:23
- Bestival Group was put into administration by James Benamor's Richmond Group in September.
Camp Bestival will return after Bestival Group entered administration last month.
Live Nation and SJM made a deal to secure the future of the family-friendly arm of Bestival Group, which also owns Bestival, one of the UK's biggest festivals. In September, Richmond Group, owned by loans tycoon James Benamor, put the UK festival company into administration after they loaned Bestival Group £1.6 million in February 2017. Soon after entering administration, Richmond Group bought the festival brand and assets for £1.1 million, while looking for a partner for Camp Bestival, according to a BBC report. It's now clear that Live Nation and SJM are those partners.
Camp Bestival organisers Josie and Rob Da Bank said they are "back in control" of the festival in a statement on its website. "With the help of Live Nation Gaiety and SJM we will really be able to bring more of our creative vision to life with the support structure needed going forward," they write. "Our aim has been and will always be to create the best ever family festival. We look forward to sharing this new chapter with you. More news very shortly."
The future of Bestival is still unclear.