Bestival Acquired By Billionaire Debt Collector; Future Uncertain

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The Bestival festival at the Lulworth Estate on Sept. 7, 2017 in Dorset, England. 

UK music festival Bestival has been bought by British billionaire and CEO of Richmond Group Debt Capital James Benamor for £1.1 million (or nearly $1.3 million), although its future still remains murky. According to a report by NMEBenamor filed administrative motions against the festival, founded by DJ Rob Da Bank in 2004, after the event failed to reimburse him of a 2017 loan of £1.6 million. Benamor's offer to buy the festival, and its family-friendly Camp Bestival event, was accepted.

“Richmond Group has today made an offer of £1.1m to purchase the brand and assets of Bestival Group, with the intention of running the successful Camp Bestival going forward,” a spokesman is quoted. “Under this offer, all Camp Bestival 2019 tickets sold so far will be honoured.”

No mention has been made whether or not Bestival proper will return in 2019. Last year, the dance-heavy festival boasted headline performances from The Cure, Major Lazer and Hot Chip in Dorset, England. Billboard Dance reached out for comment, but none has been given by press time.

"We have been fans and supporters of Bestival since the beginning," Benamor is quoted in NME. "Our children have grown up with wonderful memories of these festivals. Bestival is an example of Dorset being world class and we are keen to ensure that this fantastic institution goes on to delight families and local businesses, for many years to come."


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