The company behind the Friends of Mine festival has gone bust leaving dozens of bands and suppliers out of pocket.
The three-day festival was held in the grounds of Capesthorne Hall, Siddington, in May.
But the company behind the event, FOMFest Ltd, went into voluntary liquidation on Friday after failing to find investors to pay off its debts, believed to be up to £200,000.
Dozens of firms, including many small businesses, were unpaid after costs spiralled and ticket sales were lower than expected. Bad weather wrecked the final day of the festival. The Express understands the debts range from £150 owed to musicians to tens of thousands of pounds to suppliers.
In September, one of FOMFest Ltd’s directors, Sam Gardner, 31, said the company needed more time to secure backers and was still planning to host the event in 2012.
Handforth-based insolvency firm Beesley and Co. confirmed that they are handling the liquidation.
Event manager Brian Cleary, of Sygma Safety Events Ltd, says he is owed more than £18,000 for the festival’s licensing and safety.
He said: "I’m gutted that it’s gone into liquidation. I’ve lost a third of a year’s wages which is a lot of money to give up. I’ve worked all year with nothing to show for it."
Brian and several other creditors have formed a committee which will meet every six weeks to monitor the liquidation. Tickets for the festival cost £89.50 for the weekend. Bands included The Charlatans, The Buzzcocks and The Lightning Seeds.
The Express has been unable to contact Mr Gardner.
