Administrators appointed for crumbling Festicket

Featured image credit: Yvette de Wit on Unsplash

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 admission and VIP tickets, which were then bundled together with travel, accommodation and various other add-ons.

In August, Festicket filed a moratorium, which typically means that struggling businesses are given formal breathing room to try and come up with a rescue plan.  

The moratorium period was then subsequently ended by monitors as it was no longer likely to result in the rescue of the company. Filings also suggested that an Administrator be appointed. 

It was then revealed that ticket exchange service Lyte had agreed to acquire certain assets of Event Genius, which was owned by Festicket. 

In an update at the time, Event Genius said: “We can now tell you that an agreement has been made with Lyte for the sale of certain assets from the business, including the technology platforms and employee contracts.

“Going forward, Lyte will take over the operation and continue providing our end-to-end event management technology – while also offering their platform – to all of our partners. In addition, Lyte is preparing a proposal for new agreements with them which include plans to address what, if any, money you are owed by us.” 

Festicket has been contacted for comment.