Creditor RG offers £1.1m for Bestival Group
Richmond Group, which loaned Bestival £1.6m last year, hopes to secure of the Dorset "institution", says founder James Benamor
News By | 27 September 2018
Richmond Group, a company controlled by British loans tycoon James Benamor, has offered £1.1 million to rescue Bestival and Camp Bestival from administration.
It was revealed earlier this week that Benamor had filed notices at the High Court in London of his intention to appoint administrators to three companies behind the events, Bestival Group Ltd, Bestival Ltd and Camp Bestival Ltd. Another company owned by Benamor, Richmond Debt Capital, extended a £1.6m loan to Bestival and took charge of several festival “assets” in February 2017.
A statement from Richmond Group (RG) announcing the bid confirms the family friendly Camp Bestival 2019, for which tickets are already on sale, will go ahead as planned, although no mention is made of Bestival. IQ has sought clarification as to the…
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