The boss of one of many firms owed thousands of pounds by a music festival company says he’s applying for its liquidation.
The three-day Friends Of Mine festival was in May in the grounds of Capesthorne Hall, Siddington.
But the company behind the event, Fomfest, still owes up to £200,000 to as many as 50 businesses and musicians.
Last month its director Sam Gardner admitted they would go bust if they couldn’t secure investors – and yesterday he said he just needed a little more time.
But one creditor, who says he is owed £18,500, says he instructed his solicitors yesterday to proceed with an application for the festival company’s liquidation. This is the next step after he submitted a statutory demand for his money last month – giving FOM Fest organisers 21 days.
He said: "Their time is up. Lots of people are owed lots of money. They keep saying they’re trying to get investment, but will people invest?"
Event manager Brian Cleary’s statutory demand expires on Friday – but he says he’s willing to give them a chance. His company Sygma Safety Events Ltd in Cambridge is owed £18,000 for the festival’s licensing and safety. He said: "If we apply for liquidation there’s a chance none of us will get paid so I’m going to give them more time. All I ask is that they speak with us. They need to engage, then maybe we could reach a compromise.
"I’m disappointed, if it weren’t for my team this event wouldn’t have happened."
Mr Gardner, 31, is listed as a director of Fomfest alongside former schoolfriend Andrew Dollamore both at an address in Mill Lane, Siddington, yards from Capesthorne Hall.
He said: "We’ve got some promising meetings planned with potential investors for next week and we hope everything will be resolved.
"I’m really hopeful that with a bit more time we can get this sorted. A lot are friends and old colleagues so it’s very difficult. We want to get everyone their money, everyone wants the same outcome, and everyone wants there to be another event."
Mr Dollamore added: "I’m a director but only in terms of the technical side – the website. Obviously I’m touching base with Sam but the finances are not my department."
